RaaS Research Report – Schlumberger picked to lead Carpentaria-1 drilling

RaaS Advisory Pty Limited has written a flash comment on the Company as a result of yesterday’s announcement that a contractor has been selected to execute its Carpentaria-1 vertical drill program, with civil works to begin next week and drill rig #183 on its way to site, for a mid-September well spudding date.

Their base case valuation is $0.58/share including a 10% risk weighting to development risk expectations until the outcome of the forthcoming August 22 Northern Territory elections is known.

The full report can be downloaded here.