Gentlemen and Ladies.
We all know the risks of a wildcat well.
I bought in today - after 3months of Meo been on my watch list from ~ 30cents.
The Cap raising is a positive in my view with a floor at $0.52.
Woodsides discovery today of 2 zones of 30m plus - sure different area, understates the high success rate of the North West.
The NW shelf tends to deliver above the mean of ~ 10% for w/c discoveries and we are at about 10% of the NWS potential.
A major world player is in for the ride.
Management - quality there of - plays a minimal role in the outcome of punts on whats below - imo.
A lot of work has gone in to the decision making process over a long period of time.
20 days _ ish to target D.
I for one, love the risk reward profile.
If you get up at 3am to check the dow,kitco or cnn for left field events then put a token in and watch the ashes.
There will be selling into TD, to de-risk for those in at 52c.
With broker support and a calm period in the geo political sense - we will all be able to come out ahead and have a % in for the success which - I think will come.
Woodside need a little gas for pluto 2,3, etc.
Cyclones - its hot up here but nil on the horizon and the only strong winds will come from the gas of the Art.
Goodnight and good luck.
finch
Karratha/Dampier
holding avb, cpl, spi, sbl current spec port.
views only and nothing more - Siddle was fantastic.
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Gentlemen and Ladies.We all know the risks of a wildcat well.I...
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