Hamil -
what do you make of HENC's statement in yesterday's PR?
"The management of the Joint Venture partners plans to hold discussions in the upcoming weeks to determine the next steps to take pertaining to the Company's Petroleum Exploration Licenses in Australia."
Whereas, TGC's statement:
"Although there were no hydrocarbon shows, the well proved the existence of the Mid-Birkhead channel system in PEL 444.These results will be included to improve our exploration model. The experience in the Cooper Eromanga basin has shown both wet and Hydrocarbon filled channels can exist in close proximity to each other. We have plans, once this model is updated, to review other targets in the existing 3D covered area, which is only a fraction of PEL 444. Terra Nova has the necessary finance to continue to fund its share of a future exploration program. With this well we have fulfilled our obligations on PEL 444 and enter a new five year licence period."
TGC very much appears to say, "damn the torpedeos, full speed ahead".....HENC is playing their cards a bit close to the vest.
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