why-well what are the negatives?
1.It will need a cap raising in 12 months-just to drill more wells.To believe cash flow will be enough is ridiculous.
2.WPL effectively rejected it when it turned its back on JPP.That was significant.
3.A pipeline to the Pilbara for the gas will be expensive & necessary.
4.Flow rates for gas are uncertain.
5.Ungani reserves at present are only 10m & Ung north may not flow.
6.Arguably its just sold Goldwyer & Acacia for very little.They did not receive any cash for the sale of a vast amount of land and potential.
7.The majors pay very little when they buy in.And bru can't effectively develop by themseves-they don't have the balance sheet to do that.
8.Its management have missed a dry season & are feasting on cashless options.
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1 | 8326 | 0.077 |
1 | 20000 | 0.076 |
4 | 316673 | 0.075 |
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Price($) | Vol. | No. |
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