Our previous MD John Heugh has spoken a lot about the 6 Billion Barrels oil BOE Yet To Find in the Amadeus Basin when he was MD.
Since our new MD has come aboard and made all these ASX Announcements and Presentations, i cannot find even one reference by him to the 6 Billion Barrels BOE in the Amadeus Basin that the Northern Territory Geological Survey announced some years ago that exists as "Yet To Find" in the Amadeus Basin. This is not something to leave out of announcements!
I am concerned that he is not talking about this extremely significant information put out by the NT Government and that shows how valuable this Basin is. Is he farming out the Amadeus Basin to Santos and perhaps others later too cheaply?
After farmout of a huge chunk of our Amadeus ground to Santos we received no cash injection from that deal and all we got was a 30% carry which wont last that long the way they could potentially spend money exploring. I think that was a very poor deal for us especially that the Mt Kitty structure that Santos received as part of the farm in (which our former MD brought to the shareholders attention years ago) to potentially have about a Billion cubic feet of [precious helium Helium and several Trillion cubic feet of gas! Why so cheap to Santos?
The first hole that Santos went to drill top hole already was Mt Kitty.
My concern is that the current MD is not talking to the investors at presentations and to its shareholders about this very large 6 Billion Barrels BOE yet to find in the Amadeus Basin. Why is this? THIS IS MATERIAL !!!
CTP Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
