have to remember BP had Prudhoe Bay to develop, similar story at Sourdough oil discovered but not the right time to develop. Think all the majors have discoveries dotted across the NS that have not been developed and they can not just hang to leases without workplans. As Kat said modern technology both drilling and analysis coupled with improving infrastructure mean better possibilities of bringing into production. Listen to Premier not a lot of doubt there. Half Year Report https://www.investis-live.com/premier-oil/5d307a239add6d1100dca1b3/onvd 88E main interest. 33:40 mins 48:21 mins
and good conditions on the North Slope for the impending ice roads building season, 2 -5 inches of snow plus more forecast and minus 20 deg centigrade temperatures next few days , no excuses for any delays.
at an exercise price of AUD$0.06 so what will they do?, believe Ashley Gilbert has 20M options also. http://clients3.weblink.com.au/pdf/88E/02079648.pdf They are in "closed" period I believe so may be the only options they have to acquire shares. Will be about timing and what is seen during drill, but would be incredible show of confidence. Unless ASIC regulations force any change to exercise date and not sure about that.
To be fair and for balance Jiddy did not put anything into quote marks or directly link to the presentation I believe. Unlike recent "quote" that wasn't.
US$23M convinced, based on modern 3D, seismic inversion and well data historic discovery at Malguk#1. :-) minus 15 deg C on North Slope with colder to come, ice road operations scheduled from 15th.