Is related to exploration permit. Most probably another new exploration permit win that not many companies in the industry even bother to bid, possibly the lone bidder as the previous round, nothing to get excited about. The government should only award the permit to company that have financial capacity to explore, TDO got measly few millions in the bank that don't even enough to cater for current commitments. I guess, if nobody wants it, you just have to give it away for nothing and without any firm commitment from the winning party. If this is a new permit, another weekend hobby / play thing for Noel for another 5 to 6 years, if successful first oil or gas in 2035.
TDO Price at posting:
4.8¢ Sentiment: None Disclosure: Held
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