pc43, page-3

Hi PC,

You write "Once they know the flow rates and estimate the recovery factor then they can raise the whole field development cost using long term bonds etc.

For what's it worth, once these production results are in and the reserves report is published then in will come the take over".

You are correct here as after they know the producrion results they know how to apply long term finance.

BUT do you mean a takeover may come after production results come in from Flax 5 AND 6? Further wouldn't they have to wait for fraccing in Feb also.

Please clarify what time frame? Isn't the reserves report being issued in June/July??

By this tme and given the markets freefall, we may still see INP below 1.17. Your thoughts?