guijarral hills, page-8

Well davo there are positives and negatives about keeping Bullseye.

I certainly would prefer to see QPN retain its share of that prospect and keep the cashflow coming in.

However, if there is any further drilling contemplated there that will involve further expense and generally Bullseye drilling has proved to be expensive and time comsuming.
Certainly there is the attraction of getting another well and more production but would QPN be any better off with that ?

To try and get another partner involved at say Guijarral Hills and get free carried then QPN would have to give up 10% (say) to another partner which would leave it with just 10%.
Okay 10% free is good but maybe 20%, even having to front up for it, may be better in the long run if they are fairly "confident" of striking a commercial find.

At this stage QPN needs additional funds to undertake its share of the contemplated Californian drilling. Bullseye is at its most attractive peak at this stage and therefore a possible asset for sale.

We will see I guess.