RE: late trade10 Mar 2020 12:12
It'll be interesting to see if we get another drill in before September. There's nothing in the registered company accounts risk assessment that mentions oil price volatility, which suggest no hedging. We have storage of course but it does impact short term cash flow. With the delay in the gas infrastructure (my suspicion is the concept had to be proved), there's the possibility of being behind expected income (remember the gas drill was to be financed out of revenue). Spend of 4.5 on the drills, 3D, EPF, remedial services and local facilities need to be accounted for as does potential oil sales of course. It would be reassuring to know there's enough in the kitty to push on with the next drill based on results of 3D.
BYOF.