Icharus,
I fully agree with you. This is not a bad way to bring some cash to EGL as long as the share price doesn't drop.
I am less optimistic than you on two points.
1) Even if the testing at Lorraine is positive the gas can't be sold until EGL gets a production licence, and this takes minimum 2-3 years. The bills will drop long before on the desk of the CFO. The sahreholders must prepare to be very patient.
2)I had a closer look at the program and put some figures on it for 2009-2010.
Testing in Lorraine: 0.3 Million €
Seismic in Lorraine, incl. processing & analysis: 1.0 Million €
Explo. drilling/testing in Jura : 2.5 Million € per well (minimum !)
Seismic in Jura, incl. processing & analysis: 1.0 Million €
Gazonor (old well): 0.3 million €
Operational costs (offices, company cars, salaries...): 1 Million € p.y.
This amounts to 7.1 Million € for 2009- mid 2010 only.
EGL was starving for cash and will receive +/- 6 Million € within 5 years from Yorkville. I just can't figure out how they will finance the projects when this just covers the operational costs.
If any of you can, please let us know !
- Forums
- ASX - By Stock
- EPG
- someone must be expecting something tomorrow!
someone must be expecting something tomorrow!, page-7
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EPG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & MD
Charles Armstrong
CEO & MD
Previous Video
Next Video
SPONSORED BY The Market Online