RE: New interview11 May 2025 23:24
TommyD and ScarletV –– bearers of truth? so it seems... let us respect the messengers.
Certainly, they do not seem to be perpetrators of the ramp of wishful thinking and irrational exuberance.
The following is vital information–– well application put on hold, two days ago:
It does appear that there should be $200K of Aeromagnetic Survey work underway; and by normal standards, there should already be contracts entered for the $2M of seismic that is expected to commence by October, this year; however, the plan for an exploration well was proposed for starting in October 2027– moreover, the estimated cost was $15M... guessing that money needs to be raised, and it will be dilutive.
Application Type: Well Application
Reference: Hussar-2
Date Lodged: 09/05/2025
Lodged By: WESTMARKET OIL & GAS PTY LTD
Stage: Lodgement
On Hold Reason: Applicant To Provide Information
Placed On Hold: 09/05/2025
Moreover, the following is from the Work Plan on file, which was submitted to DEMIRS
Work Program
Page 1 of 1
Year Start Date End Date Description Quantity Expenditure
1 12/10/2023 11/10/2024 Geological and Geophysical Studies 1 $75,000.00
1 12/10/2023 11/10/2024 Geology and Geophysical Interpretation 1 $75,000.00
2 12/10/2024 11/10/2025 Aeromagnetic Survey 1 $200,000.00
3 12/10/2025 11/10/2026 2D Seismic Survey 1 $2,000,000.00
4 12/10/2026 11/10/2027 Geochemical Survey 1 $200,000.00
5 12/10/2027 11/10/2028 Exploration Well 1 $15,000,000.00
6 12/10/2028 11/10/2029 Geotechnical Studies 1 $250,000.00