Ann: PGY: PGY & TEG agree to restructure Cliff Head JV Interests, page-10

Lot to take in that's for sure and looks like the market is uncertain.
Excellent news is that we are underway with seismic L7/437.
Did you see this - "the seismic acquisition is fully third party funded" - would like to know more about that.
But the New Board now sees the L7/437 area with the potential to take TEG places no doubt.
Conrad has informed there has been plenty of interest from others wanting to drill with us at L7/437.
If we have success there we will be able to access more Oil and hopefully with some success there gas as well.
Conrad has the credentials and has completed plenty of work assessing the potential L7/437 previously and if you talk to him about the permits he is very bullish about the potential they could hold for TEG
Getting the 100% of 437 is very good.
With excellent success right next door to us why not now push hard on L7/437.
We have had no other party want to come in and drill with us for CH M2 even though oil price is strong so what we have now is a declining oil field with about 3 years life left at present.
So is CCS the future?
Blingo and the Pilot team certainly think so.
Appears from what I have read to help and assist with a declining oil field at EOL the CCS has advantages.
The CCS sure does get plenty of attention and press.
We have been informed it is profitable.
This will all take a while the way I read it and the TEG will still have plenty of time to take advantage of getting production up with repair to Ch-10 and great POO pricing and sustained decent income for quite a while yet with the majority stake in CH.
In the meantime we will have money in the bank to get things moving and sheeze no more Capital raising PLEASE..
Above AIMHO.