Yesterday morning we wake up to the Lrl news which was obviously a stinker however the company always try and stem the rot with some positive hindsight/foresight bla bla bla… ” Folks this is the game ” We can never be certain but more often than not a companies hardest call is to deliver good or bad news in the right way and at the best time…. Sounds simple ay? Although statistics say otherwise.
I’m told that Lrl have cash covering its position! As do New World Oil however they are not alone as I recently covered Global Petroleum (Gbp) who also have a cash coverage with some interesting projects in the Mozambique channel and more importantly Namibia. Serica (Sqz) have just farmed out announcing BP who have taken 3d seismic costs with rights and responsibility to drilling/well testing costs should the data be favourable, which highlights New & Lrl are not alone out there!