RE: Tecx25 Oct 2024 08:27
Tro,
PRD, its Q1-25 before either test results, or a drill - which may require some jiggery pokery to fund.
The drill target (named MOU5) is low CoS, ITR rekons 12%, company rekons 50% CoS.
The drill could be derisked by positive test results from MOU4, which clipped the edge of the reservoir down dip.
However, I dont know if they intend to test MOU4 before drilling MOU5 - they are presently testing MOU3.
They are having issues establishing flow - the formation damage is severe.
They also have a project in Trinidad, which may start to generate income shortly, possible alleviating funding issues, but isn't likely to support the Mcap.