Ann: Operations Update - Project Icewine, page-203

In my opinion, if Icewine 2 vertical well flows economically, then it's a major de risk for the Franklin Bluffs area and as such a market capitalization of around $500 million would be the first re rate (i.e. 11 to 12 cents prior to further dilution to progress project Icewine further) before settling somewhere in between $350 to $400 million market capitalization prior to next re rate. $1 or more a share is possibility but only a few more years away once dillineation of the full acreage is completed. For me 88E has always been a long term speccie stock given the 10 year leases and that's if we do not get bought out before then.

I've banked considerable amount of profit already from riding the lows of 0.007 to the highs of 8 cents over last 2 years and now will wait till buyout or bust for the several million free carried units. So to answer your question @Naki1 my exit strategy is the final buyout price in a few years time unless sooner.

Little tick up on the ASX I notice, maybe slow and steady in the short term