Proactive presentation Melbourne meet up, page-5

I went to the Sydney preso today

Nothing new really to report that hasn't already been said - seemed a bit rushed and I intercepted Adrian straight after - was polite but he said he had to get to the airport so i guess he's keen to get to Melbourne

main points not in the slides
- discussed different funding methods with the projects - they're not sure of the chronological order of them but repeated that a partial farmout of Buffalo was likely
- not exactly sure of position of OWC's in Dorado (despite the pressure measurement arguments put forward here)
- when asked about t/o, stressed CVN is undervalued by market but not by oil industry/peers
- seemed just as keen on Roc/Baxter gas/cond project as the other main 2 projects - likes the 20 year income stream it will bring
- asked him about PS3 surprise after PS2 overpressure - said unable to measure perm in PS2 given what happened so shouldn't have over-anticipated PS3 - asked is there still hope or a dead duck for Phoenix and he said with their full plate now, it's just been moved down the priority list
- reckons mkt overshot on the way up and has now undershot to the down

had other questions but like I said he had to run so hope you guys have more luck in Melbourne