They're doing well atm, increased the acreage, got BHP investing and paying an in advance deposit of approx $25M to date( total seismic cost BHP funding probable more like $35M- $40M by the time its all processed for SC55, worth 3 or 4c /share ). How many little aussie oilers have that sort of backing from BHP ?
SP will go ballistic when BHP/OEL announce an agreement to drill 2 wells targeting more than 500M barrels.
For another $35M-$40M they may decide to farm into and drill the 100Mb Argao prospect in SC51 as well ?
Quite happy to buy more atm.
excellence in oil and gas presentation, page-8
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Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.3¢ | 1.2¢ | $3K | 240.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 13140096 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 10314006 | 18 |
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