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This was in the context of the new interpretation work being done on the surveys. It is interesting how improvements in technology allow them to re-examine the data and improve understanding of what they have there. Eventually there will need to be a 3d seismic study, maybe that’s when he will actively seek a partner.
I think it was clear that his primary focus is on getting the drill bit turning in Cameroon with Nam second priority. Not surprising as he has been diluted just like the rest of us!
Thanks Norseman, I did make it, with about ten minutes to spare. There were biscuits on offer :-)
Much as I expected there was no new news, because if there was there would have to be an RNS.
Work is ongoing ref financing and rig and the published timeframe of 3Q/4Q for drilling Cameroon has not changed.
He was unable to say anything further on Namibia but hopes to be able to do so soon.
I think that that JA is committed fully to getting Cameroon done.
I was, yours came up just as I posted. Like you, I get irritated by cross board posts!
Also, I was talking to a mechanic this week about leccy car batteries, he was saying that many garages don’t want to change them because of insurance issues/costs and that replacements cost about as much as the car would be worth at that time.
I’ll stick to O&G investments :-))
In the last three years the placings have been in August or September. The half year report to 31.12.22 shows USD1m in cash and a monthly operating cash outflow if about $60-65k per month. What cannot be estimated is outflow on Capex so far this year but at the moment if cost run rates are similar to the last reporting period then there should be sufficient cash for the next 3-4 months.
That is my take on it but, as ever, don’t rely on me DYOR!