U4 and 5 just need to be flow tested and hooked up can run on...

U4 and 5 just need to be flow tested and hooked up can run on natural flow for a year . Broome debt funded .Long life tangible asset .Most of the money not needed for 6 months after we are producing at 3000 bopd but we need the FID now . Ufw needs oil flow line and hook up and completion as oil producer . Not big dollars so far , we have strong cash flow in 6 weeks time from now .
Need to drill U6 and hook up .Do it after Ufw sometime before next Wet season . $5.5 million to drill complete and hook up .
Imho can be done out of cash flow from 3000bopd .If things don't go to plan , bridging finance or small CR but I do not think they would need to . Put ESP in U4 and 5 after U6 hooked up .Forget the pipeline .Fix the pond , put in a culvert and dig a drain with an excavator with a laser level to where the water can get away only a weeks work not big dollars .

Where would the business be in 12 months time . Not much money in the bank but starting to deliver 5000 bopd of very high margin oil each day into a tank in Broome .Revenue at current prices of over $13 million per month much of it free cash flow available to used to find more oil .
May be debt for oil terminal of $20 million but the capacity to pay it back quickly .

Very low risk plan .Big production lift and margin lift for very little outlay . A lot of the money to handle 5000 bopd has already been spent .
De risks the business against a drop in the POO.
No chance of a crash in the SP from any dry exploration holes while it completes the transformation to an oil production business .
Ready to tackle a big exploration effort and importantly ready to quickly develop any discovery because it has the transport flexibility and the operational freedom to change the program from exploration drilling to development drilling with out partner hassles or commitments .
Where would the SP be ?
Double or triple where it is now ? Depends very much on the POO .
If a predator wants to swallow us we would be a much bigger fish to swallow

This is basically the PLAN that Buru put to us before the last CR except that the Mother of all Wet Seasons and some drilling problems has delayed the time line and the very fortunate increase in the POO has made farm outs optional .

All the Adrenalin junkies have to wait a year to get their fix and the traders that want ups and downs to trade would also have to wait .
gltah