chinese, page-34

Crespo

You are still twisting the facts and don’t want accept the reality.

Don't make demagogy. Did you understand from the fact above why Conoco is selling some assets? (cash flow problems). It's not "a big player has bought in but another big player...has sold a slice. The +ve equal the -ve in my opinion" as you said. You have to be honest when discussing here or I will be not be very polite. Sorry.

Also, Conoco put a value for the Goldwyer Project AS IT IS;
100 MILLION DOLLARS. Do you understand that?

As it is! With no success yet!

Only Nicolay-1 well drilled and Gibb Maitland-1 suspended operations at 2900m because of drill pipe stuck incident!

And PC has accepted that and paid $29m for it AS IT IS.

Even Conoco has already made profit from the money they paid so far. They paid $13m for Nicolay and maybe $10 for Gibb Maitland; $23m in total. But they got $29m form PetroChina. Now they will jointly pay the expenses.

Do you mean, they didn't show anything to convince PetroChina to pay more than what they have already spent?

Also, could you think why PetroChina has accepted to involve in this project even though its first phase about to finish (Only one well remaining; Blatchford)

You said "As a long term holder, I am just stating my opinion that i see this announcement as simply noise whilst the wait for news on next steps for Goldwyer drilling gets longer."
Do you also hold 500 shares like the other guy (I forgot who was that) who holds 500 shares for tracking only (He is honest to say that. I respect him)

Timuryan is right; “no one would invest in smth that is not feasible and based on what we have so far its definitely worth the try and Chinese know it.”

This transaction is very important in terms of the following points; (Sam explains very well, I even don't need to add anything)

1) Evidence of the Project’s prominence on the international oil and gas landscape due to its size and prospectivity

2) International validation of the Goldwyer Project

3) A Combined partnership which will give New Standard access to unparalleled funding, technical expertise, development experience.

4) Offtake capacity to Asian market

5) Create a formidable global partnership to help deliver the Goldwyer Project in the coming years.