drilling approval received, page-14

"Conduct joint studies with various Universities on project areas identified by Pak Thamrin’s research and apply for PSC’s over these areas.
The last year has seen the generation of a further 17 project areas that are currently under review for availability,prioritisation and fundability.
In addition to this process the Company is also in advanced discussions on several strategic relationships that will see Quest with greater technical, personnel and funding capability. These arrangements would see the Company having operational control and a significant retained interest in a number of these project groups whilst avoiding unnecessary shareholder dilution."

Wow, this aspect of the announcement was clearly missed by the market this morning. The company has basically articulated to the market that there are a number of A1 project areas that are still available with potential applications for PSC's (17 identified from their review.)
And that QPN plans to be the vehicle for Thamrin et al to access these for development.

I have no doubts that this group of people are in the best possible position in Indonesia to win these areas. We will look back at the market cap here in 12 months time and say can you believe I could buy as many of these as I wanted for under 1 cent.

Kiril.

I hold.