Ann: Tanzania Project - Resource Evaluation, page-4

The project was conceived around the end use of, and largely funded by the Tanzanian Govt. It was never intended to be an open market project. If your sole customer picks up the tab, its a no brainer really.

Also, consider the exponential imrovement to the bottom line, in the vacinity of 30-50% from 10% of the action, at negligable cost, and you might just have a little company maker here. IMHO the Australian assets are a long way off, and will take real cash to get going. The Timor project is the wild card, but not until a partner (and a sunstantial one) can be enticed along, and this will take oil in sustained $80+ territory.

The Tanzanian play is the company maker, if there is one, especially with the offshore potential to tie straight into new infrastructure as a bonus, and existing JV arrangements in place.

Not a bad position to be in for a little debt-free oiler. Shorters don't come knocking, and the SP is stable, probably as a result of the fact that this BoD don't appear to be serial cap raisers at SH expense, (a common predilection down here in the penny stocks). Worth a solid punt methinks. DYOR