Great post Dan, just had a chat with someone with knowledge on the subject and they confirmed what your saying.
Basically they said that Lone Stars subsidiary, LS Operating Pty Ltd in certain oil and gas drilling opportunities set out in a letter agreement between LS Operating and BRK - Step-in Agreement, under which LS Operating will be referred opportunities by BRK Oklahoma to assess and then undertake potential future drilling and or acreage acquisition opportunities, these include the opportunity to step-in for a 20.57% working interest in the Bullard #1-18-7H well in Garvin County Oklahoma, The Bullard Prospect is a conventional horizontal drilling oil and gas well in the Woodford Formation in the Anadarko Basin . The proposed drilling location is offsetting a recent successfully drilled (producing) horizontal well . The estimated share of drilling and completion costs is USD1,679,000, the estimated program management costs USD$419,953, which gives a total estimated exploration expenditure of USD$2,099,761 or AUD$2,799,682 based on an exchange rate of 0.75 USD/AUD hope that helps .
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