steady ship, page-3

the interim seismics were next to nothing...

the farmin deals were both at staged levels with farminee having to decide whether to go beyond 3D seismic stage...
resulting in the underwhelming market reactions to both projects farmout announcements... ie; they r not wot was expected...

the staged manner of the farmins giving the farminee the option to pull out after 3D seismics is a decent step lower than that expected... however, if both projects come up with very positive 3D seismics and both move forward to drill stage, then the sp value of 3 to 5cents may come back... seeing that at those levels the company would only have a market cap of about 45 to 75mill, which is on par for the potential resources they would be drilling for :-))

at current levels this is a decent punt... :-))