Looks like Damon Neaves has found a clever way of generating business for Discover Geoscience by dipping into the Manora cash reserve. This is not a widely known fact that Finder Exploration, Searcher Seismic and newly setup Discovery Geoscience consulting are all part of Longreach Pty. I assume Damon Neaves is still holding an official position with Finder Exploration and this could also be a conflict of interest issue!
Discover latest “evaluate, identify and high grade new drilling opportunities” is nothing but a rehash and duplication of prospectivity evaluation work already done by Mubadala Petroleum the operator of Manora G1. Exploration in Manora block has failed to deliver any significant discovery (this include the latest Manora-8 failure), wondering what this latest Manora Exploration potential is likely to achieve (other than what I have already indicated)?
Manora exploration potential claim “The existing Manora Oil Field infrastructure allows for discoveries within ~5km of the platform to be brought online for production within 2-3 weeks of drilling” – is yet to be technically demonstrated and possibly an unrealistic goal.
TAP Price at posting:
8.5¢ Sentiment: None Disclosure: Held
