Ann: Exercise of Option to earn 50pct in Cerberus and RIG LOI, page-27

BUY IN A NUTSHELL
Should BUY spud this year this could be the hottest play yet for the company as the 3 proposed drill locations are among the largest oil developments right now in Australia and the addition of Pavo and Santos is scheduled to drill Yoorn1 this year making it a whole lot bigger and further de-risks BUY’s drill program





Possible tie- back to existing pipe lines and processing
infrastructure it could be a short timeframe and low cost from drill to production ,




Now Holding 50% interest a successful drill campaign would significantly push up the SP and set up BUY with the capacity to acquire further interest and projects in the basin , so based on a similar oil and gas company and project the above could play out for SH this year

Having said this , it is all based on Kelso getting the Valaris 107 Platform to location and getting the job done this time !!


Kelso - looking forward to your next Cerberus progress Ann

DYOR IMO