RE:RE:Flow rate of Echidna-1 exploration wellbago wrote: Hope it's good but probably won't move the stock much. PRE only owns 35% fo that well so we would need a huge find to move the SP. The big worry right now is the balance sheet with the debt so we need some news from PRE on how they are going to improve that going forward. A knight in shining armour wouldn't hurt but doesn't seem like anyone wants to touch this lately....GLTA
Sounds like Bago sold his shares again. It is quite remarkable how the tone of your posts changes depending on your current shareholder status.
Anyway, I don't expect any news on debt during the next few months at least (and likely until 2016). The company is not in a position to decrease debt barring asset sales at this point. The price of oil will need to undergo a large rebound this year for any talk of debt reduction through operations (~$80WTI by my estimate). I think what you'll see this year is more releases pertaining to production.
Echidna is a great find. Even @ 35% ownership this will certainly help production, although is far from a make or break kind of thing. I hope we get some news on how great it is in the next 2 weeks.