The price wont hang around here for too long mate once these wells get spudded this 1/4.
I don't know how many junior explorers would kill to be in this position with a JV partner already, and an experienced one at that. From a little research I get the impression that RFP don't dick around especially owning their own rigs means the JV can dictate a timeline and obviously cheaper.
If an experienced and successful oil producer thinks we're worth more than 22c (not only management) in this market that's good enough for me. I don't know how many small explorers end up bleeding to death through cap raise after cap raise for years and end up failing without a cent to show for it and here we are with a JV partner willing to foot the bill for at least 5 wells straight up with a possibility of more in the future. AOW being full carried through this next project means whatever comes out of those wells goes straight into our pocket as the last ann. said RFP are paying from the well to the tank, bloody good deal I think even at thes prices let alone next year when the gurus are saying the av. POO will be between $57 to $70 (depending on which one you listen to).
It might take a bit longer but I think the price will soon make 22c look like a pittance and a smashing deal at these prices.
AOW Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
