ann out trading halt.! dingdingding!, page-14

Damo,Timber touched on this yesterday and so did I on another site. The jv will not have an independent assessment of the reserves available yet. This should take 4-6 weeks.

However the JV has a brains trust that would certainly provide inhouse estimates. Each party to the jv may interpret differently to one another as well.

Given the coming CR Neon will want to maximise sp in the short term so some guideline ought to appear so that the market can attempt fair value of the new asset.

The appraisal well currently well down the planning track is likely to result in further upgrades to the reserves some time down the track. Its likely appraisal wells will total 2-4, ie 3-5 wells in total. (from KC and Kris Energy IPO doc)

So we will get a number of steps in the reserves figure, the biggest sp jump ought to be the first (end of T/H) unless the appraisal drilling uncovers somethng quite special.