JRI Fireside chat with Scott Macmillan Tues. Nov 28 @ 9:00 Perth/12:00 Sydney, page-392

My take away on the farm in is that I don't think SM is keen on handing over operatorship until they have unlocked some real value. To unlock real value we need to drill string of pearls and out East IMO , prove up HC's in those 2 areas and Roach may not be too far off. They have to drill a well outside SG 4571 before mid 2025, that was another bit of info I gathered, my understanding was the leases would all be rolled in to 1 on discovery but SM confirmed yesterday that the leases are separate and can be traded as such. However I don't think any co would accept that and SM basically said as much .So 3D, flow test then 2 wells. I noted that SM said they were trying to water proof the drilling so they can drill all year round, I suspect a lot of that would depend on where the well is so choose drill locations that fit the weather. Last thing we want IMO is a partner with no cash or a big mob who move like glaciers. We need the Mumma bear.