cash will be around 10cps pre h-3 spud, page-2

ronstieb,

your assessment assumes the near-term value of 70c+ upside from an appraisal well (high POS) is less than the 1.5c lower entry price you may achieve.

the quarterly all but confirmed that TS will be monetised this year and they have a senior exec ONLY focusing on this project to flush out another $100m+ out out Eni.

I think folding ones hand before the cards are even dealt may prove to be quite risky as the key risks are to the upside.

So what if cash gets down to $60m, anyone of the half a dozen project could recover more than this is back-costs commitments and upfront cash.