You'd think so eh...but they can't control everything, and stuff will happen- pretty much guaranteed, and remember we are doing some unproven technical stuff that warranted the R&D grant....Halli had US experience in micro proppant use, I'm not sure if Condor has....so it's a real experiment (happy to be corrected here!). I have allowed for more delays, setbacks, disappointments etc etc - it ALWAYS takes longer than you hope or expect.
I'm sure Halli weren't lackadaisical- I'm sure they intended to do their best, and probably did....but there was a stuff up....was that actually a direct Halli human error?....might have been, but to give them the benefit of the doubt (given their expertise) let's assume it was just an occurrence. And we know in this game, occurrences happen all too often- failure is more prevalent than success with explorational drilling.
We've suffered for it of course, with delays, loss of momentum, a waning sp and all that, but we have to remember that all the intent and experience and professionalism, will and desire dosn't mean diddly squat sometimes. Condor will come in hot off the back of recent successes- but that guarantees absolutely nothing.
It's a very binary event coming up (at least in the relative short-term)- the combined 6 sector flow test either works at commercially viable rates and we're up and away....or it doesn't, and we either have to recalibrate (raise more $ from a CR perhaps if we can't attract a willing partner to prevent a dilutionary event) or, god forbid, we're left with a lemon (remotely possible- can't be 100% discounted, i.e that despite the defined contingent resource, for whatever reason, it's not commercially viable to extract or technical able to be extracted).
Risk v Reward- all to play for.
***PS...if I didn't think all this would work, I wouldn't have bought another 200,000 units, given I'd reached my target holding after 5 years of continual buying. However- Does that mean I know something in particular regarding the chance of success with Grandis (and Nomgon)?....absolutely not. It's a massive punt at the end of the day- well researched of course, yadda yadda, but still a punt.
EXR Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
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