It would be helpful if they were to explain this more fully - maybe with a diagram of the reticulation system they are employing to take the gas.
If this is happening with the first Marlin well then what will happen when they have two on-line - will both be constrained to a total of about 10-13 mmcf. They may not want to spend more on a pipeline upgrade until they know if these rates can be maintained.
That re-rating is a long time coming though you would think it inevitable if Marlin-2 goes as well as Marlin-1. It is nice to see that their cash in the bank has been steady for a while and they must have around $2m coming to them from sales by the time Marlin-2 is completed (probably about 3 months from now) - mare than paying for their share of the drilling costs (assume NRI again increased to 23%) without dipping further into reserves.
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Last
10.0¢ |
Change
-0.010(9.09%) |
Mkt cap ! $15.03M |
Open | High | Low | Value | Volume |
10.5¢ | 10.5¢ | 10.0¢ | $53.59K | 532.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 150000 | 9.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
10.0¢ | 25000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 150000 | 0.098 |
1 | 30000 | 0.097 |
4 | 142104 | 0.095 |
1 | 11111 | 0.090 |
1 | 100000 | 0.085 |
Price($) | Vol. | No. |
---|---|---|
0.100 | 25000 | 1 |
0.105 | 19460 | 1 |
0.110 | 35189 | 1 |
0.115 | 50000 | 1 |
0.120 | 93600 | 4 |
Last trade - 14.26pm 06/09/2024 (20 minute delay) ? |
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