sds field sale us5.5million, page-7

Well that was out of the blue!

It's sounds like a good thing to sell SDS as it is a high cost/low margin producer. With $5.5m they can do a lot of workovers at AC. If the oil cut is 10% at T8 I would expect they will put that on as a producer. A good development at AC with say 10 producers could give us double or triple the production that we had at SDS but with a higher margin.

I just hope they do these workovers and don't get tempted to waste this cash like they have in the past on reports or chasing rainbows.

"Meanwhile the company continues to assess a number of commercialisation options in relation to the Grieve field EOR development". What does that mean? Sounds like a JV partner is an option.

The part about reorganising and reducing US office overheads sounds like Chris was targeted as a way of cutting costs so he jumped before he was pushed.