Good to get this viewpoint and something I did not consider....

Good to get this viewpoint and something I did not consider.

Empire mentioned this in the last quarterly...
"Empire will continue to actively review and manage its acreage portfolio to ensure that funds are deployed on the most prospective permits and on prospects where the chance for commercial success is interpreted to be the highest."

What puzzled me is that Wannamal and Bootine Deep have been put further down the list of prospective drills, when they could be drilled at the same time as Gingin East from (possibly) a single drill pad. Wouldn't this have been an efficient use of company funds rather than say the Raven prospect? I guess they must have really seen some positive results of the survey to push Raven for drilling following Red Gully North.

We are not far away from a drill which has a very good chance of success.

I just hope that management can actually bring a cashed up partner into a JV partnership which doesn't give too much of our share away. Recent Canning basin and South Perth basin sales/JV's don't fill me with confidence. Top up mechanisms, consolidation focus and the repaying of the ERM debt are keeping a tight lid on the SP. Hopefully when Red Gully North starts drilling we will see the SP rise towards .8-1 cent again.