realistically they must sell something , page-2

Scott spencer did not screw up.

nobody in their right mind could of foreseen this many problems with the well.

he has done really well with the cap raising trying not to dilute to much, he took a chance but it didn't pay off.

if they raised heaps at 8c and we didn't need it you would be all over him saying unnecessary dilution. at the point of raisings they had every belief they would be flowing oil by now. and able to raise cap at a much higher sp.

this is the game your in when investing in oil and gas exploration. and just have a look at their admin costs, they are running a tight ship, admin to exploration cost ratio is almost the best in the business.


it would be the deal of the century if they got a cash component for a farmout of Tanzania at this early stage. highly unlikely. i doubt very much they would sell any african assets.
Australia if anything.

i hope they don't farm out any somalia, and i'm not sure it would be a great idea sending the PSC back to government with all the problems over there at the moment.

the sp should increase slowly, the play is valid. you just wont get your headline BPD figure and the overnight rapid increase. (unless they clear the well in this last run in)

Aje production up next to the plate.