RE: RNS...5 Jul 2018 09:55
Funding:
Oil:
14th June: 'Alba holds an 18.1% interest in HHDL which in turn holds a 65% interest in the HH-1
discovery. Alba has funded its full share of planned operational EWT costs.'
27th June: 'Oil produced from the EWT will be sold on the “spot” oil
market and any revenues will be utilised to offset overall testing costs.'
Greenland:
2nd May:
The placing proceeds will be principally used, in addition to the proceeds from the
placing announced on 29 March 2018, to advance and accelerate the Company's
interests across its existing portfolio of assets in the onshore UK oil and gas sector
(Horse Hill and Brockham), its mining exploration portfolio, notably in Greenland and
Wales, and for general working capital purposes.
Do Alba have enough funding for this seasons Greenland project ? Maybe given the recent fund raises.
They will probably require funds to get HH into production should it deliver the results we all hope for or more funds for further drilling at HH.
Until HH goes into production and or Brockham Kim comes online there is always going to be funding questions.
GF strikes me as a guy who is careful with his money and given he picked up TBS for free he certainly has an eye for a bargain.
All Good Here