Ann: Joint Exploration Agreement-ATU.AX, page-6

Just had a quick peak at the annual budget of JOGMEC. I am pretty keenly anticipating how it will play out after they start sniffing around Panorama. If results are what they could be (*anything in the GHN type range*), it could become very interesting, very quickly.

My only reservation is that I’m not sure how far 1.5m will stretch…? Doesn’t seem like a lot. Obviously they’re in to spend 5m total… but it doesn’t appear they’re in any major hurry to do that.