Ask yourself this....9 Sep 2024 22:01
Why are CH and the Zephyr board ploughing money into Paradox if it is such a dead loss, when they could be using it instead to buy more non-operated stuff as they have done 14 times since 2021 (Source: 2023 Final Results RNS 27/06/2024 )??
We just get a flowing well at Paradox, prove the concept and some are writing it off. This is not just about the Cane Creek - we have 7-8 overlying reservoirs yet to be tested. What if they all produce just 1000 bopde each ?? Changes the picture somewhat I would say.
What about SaltWash, admittedly its been put back to 2025 but there appear to have been several expressions of interest.
'While the Group is not looking for helium to become a primary focus, the Group is cognisant that it may offer optionality and represent a value-added opportunity for the Paradox project'
Any long term holder realises that nothing is guaranteed with Zephyr, it has been a challenging time, but we are going to be heading into 2025 with producing Williston and the strong possibility that Paradox is going to be kicking in and Saltwash might have a contributing future too. Yes the company has debt, but that is not excessive and the management seem able in handling it.
In short, it is illogical to me to start backing off now.