where to aed, page-13

p1000,

My understanding is that it will not be up to AED. If the proposed joint venture partner takes a majority interest in AED's assets, then they will be the operators and decision makers from that point on. However, AED will still be expected to fund its share of the future development and exploration work.

Furthermore, I cannot see a potential joint venture partner buying a share in AED's assets without planning on doing significant further work on them. This is their prime incentive.

Hence, for AED to be in a position to say that it will have sufficient cash resources for this work, then there must be some agreed workplan and timeline to carryout this work.

I believe that to properly value AED after the details of the joint venture have been released, then this work plan is just as important as the percentage share of the assets AED is left with and amount of money it receives.

Regards

SP