Beautifully presented, with a vast range of mouth watering options.
But enough about the tea and biscuits table, lets discuss the Investors Open day.
I arrived at 30 seconds past 11 and already, people were filtering in.
It was held on the ground floor of our office building, in the circular shaped room that used to be a coffee shop.
Inside, there was a mix of brokers (Euroz), shareholders and non holders as well.
The room was sort of zoned off, into all of the different projects we have on the go, and the respective expert was there to discuss each one with people as they came in.
I only spoke at length with Phil regarding the upcoming PS3 and Dorado drilling, Andy who's baby from inception is Buffalo, and of course the big man himself....Mr Cook.
The 3 gentlemen were all brimming with enthusiasm and you could sense a genuine excitement, about the upcoming 4-6 months.
As for Phoenix South 3, the rig does have the cyclone plumb in its path and will hold off for a day or so whilst it blows over.
Phil still expects it to arrive on site in the next week though and rigging up for spud, will only take about 3 days.
Results for both, should be out within a 2 week window, some time in early July.
Adrian said he will probably report the drilling, in the same way that he did for PS2.
Announcements at major junctures as well as other interesting snippets, but not the stimulation overload of weekly meter by meter reporting, as some Companies do.
Andy was a classic. I've never seen someone so passionate about a project.
Oh and make no mistake guys, his Buffalo baby is ENORMOUS.
At today's prices and all things considered, it's worth around $1.5 BILLION....$600 million profit....in our pocket.
Yes, 60c per share!
The broader market is either too wrapped up in our upcoming drills, or they just haven't twigged yet.
As far as options going forward, at only $150 million capex and a 3 year turnaround to having that $600 million in our pocket, even from this modest investor's view, it's pretty obvious that that's where the bulk of the focus is.
They could raise the required capex from any number of ways and once results come in from these next 2 drills, they'll have a far better idea which one of those ideas, is shuffling up to the top of the list.
What's also clear, is that Adrian has cleverly removed the pressure from the PS3 and Dorado results, with the gentle promotion of these other assets. Rest assure though, he understands capital markets like few I've met, and knows the delicate balance of which trumpet to blow when...and how loud.
As for Labyrinth. This is a far more risky play, but as is always the case, the risk is matched with reward.
To grasp how big we're talking here, PS3 is big, Dorado monsters PS3, and Labyrinth dwarfs Dorado. Get the picture?
A farmin partner is likely to take at least 9 months, but with the team already working on this, time will tick by before you know it.
I asked Adrian whether he had a preference for how he'd like to maximise shareholder value; produce Buffalo, sell the assets, or sell the entire Company. He said it was all about money. Whichever one of those 3 options, returns the largest amount of money...and he didn't care which one. He did remind me of what's in our immediate future though and that if any one of the 3 projects bare fruit, our share price will rise exponentially.
All in all, today was another great initiative from a CEO who clearly has shareholders interests at heart. A team who thinks a little bit different, and who are all driven by enthusiasm and passion.
Oh and if you were wondering whether there was anyone else there of note. Hmmm. Not really. Well...no one except for that big wig from Woodside anyway.
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