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There would be no downside to testing and proving before signing a GSA especially when you have the funds. Note it is also just a potential GSA . Its no surprise to me testing has not started if you read the last Rns and pit it in context to today's statement it should make more sense.
But why are they so reluctant to test?
The market is waiting for a rns yet still no confirmation testing has started. Looking doubtful it has imo. PRD has no short term funding requirements so if price slides a bit its not a disaster but sentiment will have had another knock.
Hope CM is not the next news recieved
With this company's reputation for delays I would hope a simple RNS stating testing has started would be the correct thing to do. Some of us LTH have waited along time for it to be done but I'll give benefit of the doubt until Wednesday.
Nice Post Billyrae and is why I think this is a great time to invest in prd.Imo your are being optimistic on timings on deals as I think discussions are at an early stage but the essential testing of mou3 and good flows are certainly going to be the catalyst to speed them up.
With a firm date in the diary this is a great time to invest in predator oil. One week until testing begins. Mou3 is nearest the sweet spot for the mou fan if flow rates are good the sp is only going one way if they are excellent sp is only going one way but faster.