so they have to spend about 277k on a new permit block for which they need to apply for, within the next two acreage releases..
they will easily BURN the 277k.. we know that much..
but within which period of time the two re-releases actually occur is another matter..
effectively they need to take up something that was previously held by someone else and then dumped...
thats how ive interpreted it..
possibly not as bad as it seems, because sometimes there are rules by which companies must offload parts of their acreage as time goes on, so there might be potential for some ground to exist next to something which has been discovered or is producing...
a bit like those african production assets
(am more hopeful on that, than anything else...)
oh well.. it seems to be all about spending and committing to spending money that you dont even have !!
and to continue spending it regardless of no actual return on anything, other than to yourself..
not sure about the rest of you, but i reckon that i could do a decent job as a director of a listed company
QFY Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
