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sensible123

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18/04/17

11:49

Post #: 24111369
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Originally posted by nammuldi ↑

yes lets hope so and as often is the case that the international scouting around is not as simple as it seems because many of the Cos sought do not know especially of Bass Strait - either as prospective or thought as fully explored, and more so of a little tiddler Co called TDO, and then to their surprise and maybe first skeptical response to such a great looking prospect and seriously good quality data.

So then in part disbelief and thinking this is good they have to convinve management higher up that this is ligit - THEN then have to see if under current budgets and against what else is being looked at worldwide how does the TDO ground stack up - and things are still tight but loosening ever so slightly for captial requirements for exploration, and then even sovereign risk now is clearly evident thanks to the Govs ban on onshore gas exploration such that unease would fill boardrooms as to what else these dickheads called state Govs are going to do.

Talk about long lead times for drilling this certainly is the case here, but just maybe the wait is worth it. Noel has kept the Co in pretty good shape in terms of shares especially when compared to many other Aussie oilers who are all over 1billion shares on issue. Still $3m in the bank and maybe though not much in current circumstances a little return on previous money sunk for seismics etc from the incoming partner would be nice - but not essential. A free ride for 25-30% would be ideal - lets hope a new partner is close and that drilling is the first up event, not off doing further seismics on prospects to the south not covered by 3D, but this is a possibilty in order for the new JV partner to get a toe in the door but minimise expenditure in the next 12 months.

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Is not easy to find a deep pocket partner to stump the $ to go to next stage of the development.
If you were a oil major, would you stump up the $ and get a percentage of the venture???
Or you buy out TDO all together (even at a big premium- say double or triple the current MC) and get 100% of the business.
If Noel didn't wake up to the reality, nothing will happen in a long , loooooong time.

TDO Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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