Knowing how the global oil industry is being decimated, by the time the company gets cashed up with its sales of fraccing free gas there is a likely to be a world shortage of oil. We may be able to turn the company loose on its oil prospects in a high oil price environment.
The company has gone quiet on its oil prospects to the north-west of Mereenie and at Surprise East. Given the way the oil price was plummeting when the managing director revised the company's strategy to concentrating on gas, it is hardly surprising that we've heard nothing about oil in the last 3 years. That does not mean that our prospects were never there or have evaporated.
CTP Price at posting:
9.9¢ Sentiment: Hold Disclosure: Held
