An opinion26 Oct 2015 10:48
I continue to be highly impressed by CEB and it's continued progression/development. If we enter a JV with the Indonesian operator we will need cash, though considering it's the 'holy grail' then no-one can have any complaints raising funds for this as it will launch CEB into a serious re-rate.
Remember, two of the fields we are targeting are farm ins and cash generating from the off and do not require buy in funds - well optimization or virgin drills into the producing reservoir of one of these assets will require cash though potentially not from the off if say we are producing 300-600 bopd for arguments sake pending on whether one or two assets secured. David feels that we're very close to these deals. We're a third of the way through the gas due diligence. Additionally, looking forward to hearing about the head hunted potential recruit. Listen to the Sharepickers podcast again the direction is very clear. His tone is very up beat and he sounds significantly more confident compared to previous casts. Happy to kick back and relax and let DW do his thing. He definitely knows how to play his cards and that breathes confidence, Have a good day all