BUR 5.77% 12.3¢ burley minerals ltd

God news first, they will earn enough to pay for the September...

  1. 13,252 Posts.
    God news first, they will earn enough to pay for the September drill without touching any of the capital raising .
    2. Earning will increase as they cut tax to 3%
    3. We have started to process to work out though fraccing how to reduce water content.

    Besides that if they develop the H system it will earn money maybe not at we expect about 4 or 5 more wells should see a mil a month plus other wells.

    I see it now as a bit of light at the end of the tunnel, but at least now they have and are doing something about the water cut.
    Earnings now about 3 mil a year so that should take care of all admin and 2 free wells drilled on earnings. Which I know is not perfect but will look forward to moving on to the next drill while I know it's a pain and seems like a long slog. And it is I think we can see a light at the end of the tunnel with a few drills planned this year we should see the sp move up.
    While not the most exciting play we shall see if we can slowly build on the 250g clear a month.
 
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