Very little cash in the bank and troubles with Tax rulings resulted in Sunshine being rather unloved...but all this is about to change.
Finances will be helped by the current 10m shares issue at .20c, $2m convertable note facility and additional $7m institutional placement...this will also help with share liquidity.
Overston field (100% SHG) is massive, with mean GIP 137BCF and more targets still to be tested. Expect Overston flow rates to be released March/April and 4 new wells to be drilled within the year. The field is close to existing gas infrustructure, so should be able to move to production relatively quickly.
Also new well to be drilled by April to earn into Santos JV (50%)
In all, plenty of reasons for substantial increase in market cap.
Cheers!
SHG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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