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PG1 21.0¢

I know (groan) I know....

  1. gottalovevmt

    13,805 Posts.
    Sensible question alert!!!!!!!!

    In the latest quarterly, BM states that they are in the final stages of farming down Atzam to 'fund short and medium term obligations'. He also claims they've taken short term bridging finance until the debt funding is in place and that drilling has not resumed at A5 because of...erm....(insert a lot of big words here that probably mean because we're having a sh1t fight with the operator).

    But why would another company want to dive in to this apparent mess?

    Well, perhaps what's really at the bottom of this drill hole, has been laid out at the negotiation table and said company can see the opportunity to get in at this distressed time. An offer too good to refuse?

    Seems to me that everyone is waiting for everyone and its a matter of whether PL can round up and shmooze everyone at the same time and coordinate a big bang where a JV mob says: "Yeh, lets have a shot at this thing and we'll give you a bucket of coin for the opportunity", the funding group says: "Happy days, you now have a realistic plan with actual participation capabilities. Here, have another $5 million". The operator meanwhile is sitting back with a durry and says: "Ah...now everyone's got money. Lets put the bit back in the ground and get this show on the road."

    Imagine if that happened just as that well in Texas spudded (scheduled for March) and A4 magically had that "maintenance" finished and got back to producing.

    I dunno about you lot but I sort of get the feeling that PL loves this sort of adrenalin rush and possibly revels in the "back to the wall" pressure.

    Could all this really have a happy ending and catch Bronze with a double barrel of both buying and now selling at exactly the wrong time?

    I know (groan) I know but I've got just under 10 million collective reasons to hope it does and I have everything crossed....including my nuts.

    *This post is my opinion only.

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