captial structure, page-5

The $5m per discovery and $5m for additional well on Palta are small beer (but still welcome). OXX have a 1% GROSS revenue interest on any production. If you work back the numbers on any substantial discovery (even with a delay of some years for drill out, FPSO etc), the figures are astronomical. Shell NV have spent enormous $$ on Palta and are continuing with the well inspite of BOP problems. Very difficult to get set though and company has 3 separate 'company makers' all in play atm. Amazing situation and real possibility that all 3 will come in. Fingers crossed, maybe less than a month before we know Palta and Winchester results.