Ann: Phoenix Area Update, page-3

The decision by the Joint Venture partners to acquire such a large data set was driven by the current assessment of prospectivity and the current timing is based on significant cost efficiencies and consideration of the timeframes necessary to prepare future drill ready prospects. This initiative will become particularly important, and valuable, if the outcome of the Roc-1 well is as we hope later this year."

It makes sense to me to do this 3D and 2D for the future.
The four permits will all be covered which is huge.
The partners are wise to do this at this time in the oil climate we are in at the moment.
This will only enhance the whole area and enable targeted future drilling.
It will also enable majors who want in to get a good look at what and how many prospects there are.

This is more value adding than drilling.
Look at it like this, it will put on show what we have to the world and show what outstanding prospects we have here.

Roc is still on which is positive.
So in this climate better to spend $10m on seismic than $50m on wells with a chance of a hit or a miss.

Another example of good management decision making IMO.