If they can start with unfracked production from Vali 2 and Odin 1 and Vali 3 and only do fracking later in the life of those wells it will greatly help the medium term finances of the JV as they proceed to production.
I hope they do not look to raise the finance for Cervantes yet as they should get a re rate if Odin comes in with a big test flow rate and they can justify an upsize in the estimate of the initial hub production.
I hope there may be a finance agreement and offtake agreement in the wings waiting for a FID . I suppose that an offtake prepayment might be just too much to hope for , lol .
MEL Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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