Was just rereading 11 February Announcement,
J.H. gives us our financial position clearly between the lines. We have the cash to at least get our way well into Phase 2.
We are calling for drilling contractors to "commence as soon as possible". For three to six conventional wells, and we are in the process of selecting the most suitable prospect.
We have a shot here very soon at Johnstone 1 with a potential oil strike of 300m to 1b bbls amongst others.
This means that we still have three more drilling results from Phase1 plus the core results for all Phase 1's 5 cored wells to come, plus Ooramina 2 plus more prospects that were to be in Phase 2 all happening shortly.
This holds us in good steed for CTPOA to be exercised and then for a further $20m to be made available for Phase2 and beyond.
Go J.H.!!!!!
Do I hear the stampeding return of the nervous Nellies?
good news
-
- There are more pages in this discussion • 44 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
