i wont touch it, page-5

64eheh...

When I read things like the following in an article, I know the writer has no idea...

"The strong Australian dollar has also boosted costs for the developments in U.S. dollar terms after the currency rose 23 percent since 2008"

It is in fact the exact opposite...a rising dollar (in US dollar terms) makes it cheaper to do develop as many components are sourced from OS.

The high Au dollar really only hurts when you are producing...and given the vast weight of effort is still currently focussed on development, it will be some time before the AUD/USD exchange rate balance shifts against them.

East Africa is a long way off...although I de recognise the current flow of money to that end of the world.

Speaking of "end of the world"...this region has one of the greatest sovereign risk discounts of anywhere...especially in the northern regions up towards Somalia and the Horn...deep water, logistical nightmare, and very expensive...oh and pirates everywehre.

I remember doing significant investigative work in this area when I was holding a little stock called Key Petroleum...they found a major gas discovery (Kiliwani North), with incomplete 2D sesmic...and at the time had no idea how big it was.

In spite of only holding 20% of the Kiliwani North discovery (flowed at 40mmcf/d) in the end there was not a snow-flakes chance in hell of them ever monetising it, in spite of a gas plant just 3km away on a nearby island...they eventually dropped down to 5% ownership in the hope they may be still able to get it up and going.

They are now looking to "divest" their remining 5%...and their other East African assets.

East Africa is problematic and really for the big guys...and that menas nothing will happen quickly.

Can't blame AJQ's "performance" on East Africa in my view.

Whe else would you like to blame?

lol

Cheers!