At the time the of drilling the last prospect the JV was not ready but had to drill a well as part of the committment. We at the time didn;t have the cash either and we would have had to to do another cap raising. On the then data ITC felt it was appropriate to walk away.
I think relinquishing 75% themelves works two ways. It costs VPE nothing to drill 2 holes and if they have success all well and good and we can weep or they walkaway with it not costing anything. Pretty good deal really on probably a high risk target. The Murta as we have seen is a pretty touchy horizon.
I suppose we will watch with interest.
- Forums
- ASX - By Stock
- fyi
At the time the of drilling the last prospect the JV was not...
-
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ITC (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online