I would almost certainly say the drawdown has nothing to do with Texas. 3 million wouldn't buy much additional acerage there (considring our 20/25% is worth $106m, that implies the full thing is worth close to $500m...so 3 million pounds wouldn't even scratch the surface there.
No, it's to do with a JV partner or an increase in Trinidad. At a push, maybe it's what we're paying to the government to gain offshore rights.
But something big is happening, and it's going to happen soon.
RRS Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held