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i agree, it exciting times ahead. just trying to figure out the proposed drilling campaign for this winter and the farm-out. is it 1 appraisal well for Talitha that will test all 3 zones - how much financing do we need for this? is Alkaid ready for production, subject to financing?
i'm expressing my opinions to this board in general, not to anyone in particular. how they are interpreted by individuals is none of my concern
just to clarify my earlier comment, the company has 3 production licences (PL018, PL019 and PL020) that are due to expire
at the end of Oct-20, and they also have an additional licence for the 'Discovery Area'
which expires Jan-22 (2019 Annual Report p.9). The 'Discovery Area' licence relates to Darwin East according to
2016 Annual Report p.7, i'm not sure if Darwin West has since been included in this licence as i can't find any
reference of it. Everything might be fine and dandy behind the scenes but the Board should be keeping
shareholders updated ... oh, all in my opinion of course
i'm surprised there was no mention of the Production Licenses in today's update, given that they are due to expire to expire at the end of October. unless i'm missing something?
there's no doubting the Darwin project has potential, but the company has been unable to secure a farm-in partner since it was discovered over 8 years ago - they must have punted this to everyone that would listen? given the current environment of low oil prices and low capex, why would this change now? indeed, the company alludes to "creative upstream solutions" for funding, which seems a bit concerning
Falklands in general still represents a high risk play for me as there are cheaper alternatives around the world, that don't have a political backdrop either. BOR's cash balance, or lack of it, is cause for some concern. an interesting read for anyone that hasn't seen it https://www.energyvoice.com/oilandgas/259042/oil-exploration-falklands-africa-stranded/
Agreed - but i think it's just the spread widening
Last post for today - we don't have a great deal of time to find the right option for the reverse takeover; we don't have a significant amount of cash to inject in to the new venture, unlike an investing company with £6m+; and we bring no intrinsic value from the Board/Management, even if the new venture is in the oil and gas sector