Also Pecc, taking your revenue projection for 2020 of $5,4M, remove all operating costs, salaries, etc etc (the last half yearly report to 30/06/2019 identified $1.9M of operating expenses during the 6 month period - page 7) so assume $4M for the full 12 months, leaving $1.4M for additional exploration/drilling - the cost to drill and complete in PRB based on their estimates is @$2M, hence my earlier point about how quickly additional wells can be brought on line is key to the SP as forecasted revenue may still be insufficient to go it alone and retain a higher revenue interest in the next well (and a further capital raise must surely be avoided). So PRB farm downs look like the way to go for the foreseeable future and assuming each well is successful this should still provide long term upside, I am just not convinced that a significant re-rating is just around the corner based on this one result - although happy to be proven wrong. Cheers
E2E Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
