Imo, Otto dont have the luxury of a non commercial result at Talitha, given the lack of expected production/çashflow from GC21, cost over-runs to date, and additional remediation costs.
For me the question is, can they sell the Alaska asset prespud for a decent price ?
Those hoping for a trading opportunity on Talitha participation are delusional imo. The sp wont run on anticipation if the market suspects the balance sheet is under pressure. You're basically locked into a binary result to see any sp gain, and statistically the most likely outcome is non-commercial.
I'm all for participation if Otto can also confirm we're funded for GC21 remediation and any other expected 1H 2021 commitments without requiring additional equity. I doubt they can.
Imo, Otto dont have the luxury of a non commercial result at...
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