RAW has a much tighter capital structure hence why 1 buyer can push it up so easily.
Don't forget about Simpson e/w, Dune e/w and Bejah which are part of RAW's farmin package.
Rawson Resources farmed out to Merlin (CTP wholly owned subsidiary) to fund at 100% level - 100 line km seismic in EP97 and to drill one well in each prospect block to retain an 80% participating interest.
And then further to that the farmin deal will see PXA fund 22.5% of the costs of the Madigan seismic survey (which was recently completed by Central) and 22.5% of the costs of drilling of one well in each of the prospect blocks (three) for PXA to retain a 15% interest in each of the prospect blocks.
CTP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
