RE: from Keith SchaeferThis is not very positive.
The only good point I can see is the potential NG sale through LNG plant in Darwin.
On the negative side :
1) So there is some risk they dont have time to frac before the rainy season. According to the analyst it would kill the stock
2) Baldwin will cost around $10.5MM (more than 2 times than first budgeted)
3) After the 2 wells program we should be left with around $20MM. Expecting $10MM for another well +$10MM for 2012 general expenses. So only one more well can be drilled after this 2 wells program. Then we will have a fundraising. Another big dilution coming.
4)Transportation infrastructure in the area are very bad.....
Anyway we have to pray they can end up the frac program by mid december (the rainy season is usually beginning around mid-december) otherwise the stock price would be killed.
This is definitely a very high risk/high reward stock
Best
Cosmic