Detrimental..."do they have both the expertise and equipment to...

Detrimental...

"do they have both the expertise and equipment to do the job?"

As you suggest yourself, history shows the board have the capacity in-house to bring this new discovery to production, so expertise is not an issue.

As for the "equipment"...well that is simply a matter of money...do they have enough to do the job?

In my view, if they re-arrange their forward programme somewhat, they will have enough funds at hand to get this new field into preliminary production (say 10 wells and associated infrastructure), to the extent they will be able to generate income sufficient to springboard ongoing development and production wells/facilities...and also fund further exploration.

Maximising shareholder returns via no more dilution.

It is what I would do.

AJQ is shaping up to be another Arrow Energy.

Cheers!