RE: Key facts 28/4/2128 Apr 2021 08:15
The fact is they're getting everything in place now with the open offer, change of name and share consolidation before they move forward rapidly to generate near-term cash flow.
Highlights
-- Near-term activity schedule focussed on significantly increasing production and cashflow, including in particular:
o Saffron # 2 appraisal / production well to be drilled in May / June 2021, budgeted cost $3m million, e xpected production in the range of 200 - 300 bopd generating cashflows of US$1.8 - US$2.6 million per annum, and paving the way for a full-field development projected to achieve in an initial phase average daily production of 1,000 - 1,500 bopd / generate annualised cashflows of US$8 - US$12 million; and longer-term an overall field development could ultimately comprise up to 30 wells in total, with a peak projected production of approximately 4,000 bopd ;