if they can get the resources up and the math makes sense - im all up for selling some tenememts to free up cash and avoid dilution. i liked how the qtrly had pathway to monetisation and gave a bit more of an explantion to help the layman.
So, whats the plan? to get to 2p then 1p then build a pipeline (or get someone else to)? how much 2p do we need to have one of these offtake agreements ready to go? for a 100pj agreement do we need 200? 300?
also, what is Blue's long term plan? is it to be a real big company with production out of multiple fields (bowen, surat, NT, etc)? if so, then lets hurry up and accelerate drilling to get to cashflow faster - even if we have to raise funds multiple times (via the institutional route ala the recent $20m). if Surat basin has better infrastructure, ie a pipeline, then whats the cost and time to get those contingent resources to probable and connect them to a pipeline?
if Blue's plan is to get bowen basin producing and then see from there, then lets sell some tenements to fund drilling amd wells at bowen. Get to good cashflow and then buy tenements with probable resouces, use cashflow to fund capital exp to get resouces producing.
whats the point really of holding these NT tenememts? as an asset value to sell or because in 30years time it could be a huge producing asset for Blue?
anyway, at least blue is drilling but the speed to cashflow (from operations or selling an asset at a great price) is painful.
BLU Price at posting:
5.3¢ Sentiment: None Disclosure: Not Held
