RE: Moving up8 Feb 2024 11:11
Agree tImor "We remain confident in finalising asset-level financing for the well, for which this extension was a critical condition precedent"
In was a few years ago when JA last had a rig from Borr agreed and the pandemic stalled. Oil prices are no twice as high as they were at that point (which by the way was still profitable) now it will be a far greater return if proven up into production. Initial work investigation wise also happened at that point via the inspector rig. Well worth reviewing historic slides JA has presented on the prize here.
The extension delay and risk of non receipt was priced in at ..02 we are now somewhat derisked in the eyes of financial backers.