long term , page-4

It is interesting to observe, what is happening under the radar in and around our tenement areas and our JV partners.

Here specifically a view at our EP 457 and EP 458 (for those, who haven't noticed):

1.) Our JV partner REY (I am not a holder) has yesterday announced the staged sale of their Duchess Coal Project for $21 million. Comment by their MD:

“A period of challenging conditions in international coal markets has led us to emphasise a strategy of developing our oil and gas prospects, particularly the acquisition in March this year of a further 15% interest in two key Exploration Permits in the Canning Basin, bringing our total interest in the two leases to 25%.”

2.) After getting some heavy overseas shareholders involved awhile ago, today REY announces the appointment of another heavy gun to the board:

“Rey Resources Limited (ASX: REY)) is pleased to advise it has appointed Mr Dachun ZHANG as independent non-executive director to the Company, effective from 1 July 2013.
Mr Zhang has a Bachelor’s Degree from Poznan University, Poland and a Master’s Degree from the University of Wales, UK and was conferred the qualification of Senior Economist in Shipping Management by the Ministry of Communications of China.
Mr Zhang was most recently Executive Director and President of China Merchants Group, as well as the Chairman of Merchants International Co. Ltd (a listed Hong Kong company). Previously his career was with COSCO (a Chinese company and one of the world’s largest shipping groups) where he held the positions of Executive Vice-Chairman and President of COSCO (Hong Kong) Group Ltd, as well as Vice-Chairman of two Hong Kong listed companies: COSCO Pacific Co. Ltd and COSCO International Holdings Co. Ltd.
Mt Zhang, a resident of Victoria, Australia brings extensive international experience and Chinese business relationships to the board of Rey. “

After PetroChina got involved in NSE's Canning JV and in the Browse Basin JV, it seems we are getting into more and more international focus.

Interesting times ahead, Bruthers.