Yep,
Been watching some posters express some ... won't call it exactly Excitement... but you know what I mean.
Fact is, I believe, CNR/COP/FAR is still some way off from locking in drill riggs for appraisal and exploration which means the 30-40 mil dollar touted to date will change very quickly as Oil prices increase - so any increase this early is definitely not in our favor.
The situation for FAR also just been made worse with the RBA dropping interest rates. The drop in interest rate further weakened the Oz dollar against the US dollar..
Well costs being negotiated in US dollar and FAR's 16% WI being converted to Aus dollar means that if 32mil (oz) were sufficient to cover it's portion for a 2 well program yesterday, that figure will drastically change as OZ dollar further weakens and Rigg costs/per well increases as POO increases.
Yep, Been watching some posters express some ... won't call it...
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