entrepeneurial enterprise is not really boggling. Umiat capital costs to get to full production will be large. Rewards would also be large. If the project stacks up and risk is addressed re all weather road and/or pipeline then I'm sure investors will be up for making some money from oil.
Opportunity exists in many places. I hope PB can convert 2 opportunities this year - China commecial operations go ahead with GCL JV and get the gulf coast oil assets up to 6000+ BPD to fund ongoing operations excl CAPEX without recourse to further debt.
A QLD licence to move to commercial scale would also be nice this year but with government it could drag on for many years. Lets hope can-do Campbell can do it faster.
LNC Price at posting:
70.5¢ Sentiment: Hold Disclosure: Held