Ann: Company Update, page-6

Indeed @minoil

Refinery JV or Acquisition Opportunity
 The Board has had discussions and received a draft agreement in respect to a possible JV or acquisition of a diesel/biodiesel refinery, located at Moama in southern New South Wales, which may involve the Company actioning one of two alternatives:
(i) Spending an agreed amount on refurbishment of the previously operational diesel/biodiesel refining facility, as its contribution to earning a 50% interest in the operation of the refinery, or
(ii) Acquiring the refinery via a share issue with a view to refurbishing and operating the refinery.
 The Board has not yet formally considered the opportunity and NO decision has been reached, nor any Due Diligence carried out.
 Any decisions by the Board involving this transaction will only follow appropriate due diligence, regulatory and shareholder approvals.

There’s a lot of information for something NOT YET FORMALLY CONSIDERED  - if you google Moama refinery you get old articles about record fines to the ATO for illegal fuel blending - sounds like something the Vazinator would know about?

Hmmm......