Ann: Otto Acquires Borealis Petroleum Pty Ltd, page-5

Was wondering how long it was going to take them to acquire Borealis. I was expecting it before the 3 drills early next year, but not this soon! When the price is right!

Ann. conveys to me the anticipation/excitement at OEL HQ re the entry into the Alaskan Nth Slope, and I concur with that.  It holds a great deal of potential, more imo than EARS, although that could be pretty darn good too.

The ann. also contains some very interesting statements, none more so than...

"Otto has taken this decision following drilling progress to date at the Hawkeye-1 exploration well and the recently completed SC55 farm-in option agreement with Pryce Gases Inc., which have collectively de-risked Otto’s short term capital expenditure program."

FI from Pryce goes without saying in this regard (as would've more money from a PNOC FI), but.........very interesting statement imo. Wonder if they're referring to "everything's going according to schedule", or even ahead of it, or, if they've been doing any LWD, or some such indication??

Very interesting, or perhaps I'm reading too much into it.