qn for stu investors, page-12

Hi Auto

Just went a bit thru the details about VIC53 where STU is farming in for 50%

I found it a bit strange that no finance details where announced by STU but then again going so late into a high drilling prospect will cost you an arm and a leg.

My findings so far are STU has to pay before the drilling and amount of A$ 2 million to EXOIL AND MOBY.

Then another amound of US$1,150 million to the above companies.

Stuart also have to pay an ORRI of 4% to the previous permit holder being Australian Crude Oil company.

And now to earn 50% in the first prospect STU has to pay the full drilling cost which could be anywhere from A$20 to A$30 million imho.

Further if STU wants to earn 50% in the whole permit they would have to fund drilling of a second well which would probably cost a simmilar amount.

So this high risk high reward venture has not come cheap for Stuart.

I can only see them outfarming part of their 50% holding, to lower the risk otherwise it would be just like bringing your cash to the casino.

But everyone should do their own research and not listen to me as I could be totally wrong...

good luck

jojo