Twiggy... sitting in the background., page-4

Agree musky. Not that long ago, NSE, OBL, REY, BRU (plus the majors that farmed into NSE, plus Apache) were all focused on the Canning... now just REY, BRU and FinderX, oh plus Goshawk and Twiggy. The others have literally no acreage in the canning any more.

REY kind of needed to get the Derby block, as they had to relinquish more of their southern tenements that contained the Laurel Formation.

That being said, they basically got the other 50% of Derby block for $600k. Cheap to say the least. But then, OBL were.... I don't want to get banned, but less just say the result is not surprising.

On a more interesting and positive note. REY must drill 2 wells in the Derby block in 2017. Very interesting to say the least, considering REY have barely any cash. My guess is they will be conventional wells, perhaps even going after the Anderson play that BRU recently discovered.

REY mention that now they have 100% of the Derby block, they will find it easier to get a farm in partner. The first person that comes to mind is Twiggy, but he might not want to deal with a chinese shell company (REY - that is wha they are really IMHO). My guess is another Chinese company will come in. Anyway, why would Twiggy want a small piece of the Laurel, when he could have half the cake with BRU.

So we now have 3 guaranteed wells to be drilled in the Canning this year 2 for REY, 1 for Finder (although they will be drilling twice). So Eric... what is our plan?

If we are only going to be producing at 1200bopd initially, then the Stage 2 funding is not going to be met. So either it gets dropped, or we renegotiate again? Why can we not producer from Ungani FW???? It can flow at over 1500bopd! We have larger storage too... more barrels means more cost effective production.
Sigh... this needs to be explained eventually. What about Ungani North... we know it has high quality oil?

I continue to hold. the longest stock I have ever held. Congrats to me... (sarcastic voice being used).