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Yes initially but for the same cost as ffd $35 million you get $40 million in earnings, so almost double.
Unfortunately stick the other assets has little monetary value and little hope of providing any decent size returns. Ruvuma is forecast to produce to solo $11 million in earnings in first full year of production and $40 million a year on FFD & assuming current gas prices.
Why would they worry, they have other deals to work on along with lots of drill activity if the current deal completes, the pressure would be on AEX to fund itself, not solo.
Next drill +25 year development licence would probably give you a NAV close to those figures imo. That's the point though, one drill away from a potentially much bigger pie of more gas or even oil and for a small out lay cost. Seems well worth the risk reward to me.
20 is not enough imo, for a spend of $5 million it will probably be worth closer to $50 to $100 million. Well worth the risk and if you have money coming in then no issue as AEX would fold first.
Maybe there is a leak. Not the gas I hope.
Just thinking out loud steve, but we have a good idea of how much to get into production and it's $8 to $10 million cost for solo if TPDC build the pipe line and about double if solo has to pay it's share. How long is the real issue as it is dependent on licences.
I would think the board would accept 30 million or more. The way things are going how long would it take to earn that anyway. A nice dividend for shareholders. May be the easy way out. We of course need to spend millions more before production. They could then reinvest in already producing assets.
Would it not be a good time for the Zubair corp to make an offer for Ruvuma during this suspension period, prior to the licence and prior to the CH-1 double horizon drill, surely they will never get it cheaper?
Have to be a good one though and considering the CH-1 expected geological results, the new CPR that is in progress would help.