bartm, five million of the current expenditure was spent on long-lead items which will be distributed equally between both basins. There are other significant costs that relate to running AOC which will not be attributed to exploration expenses. Many of the expenses relating to the seismic have been incurred, so the following quarter should see a decrease in cash burn, I would think!
I also don't believe it's in AOC's best interest to waste money in the current environment, so they'll be keen to get maximum bang for their buck.
RRS Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
