sp valuation & analysis, page-28

Great thread Josh....

The only thing I can't agree with is that Advent would be looking to do the drill with the least cost and therefore looking to free carry BUY for the least amount of cash...and therefore the implied connotations that go with that.

There is no benefit in this for any of Advent' shareholders...

They had to drill one hole before year end (otherwise the approval to drill would expire) and the reality is that this site was the easiest to access with the least risk from a media perspective. This site was the best possible site that was not on the horizon (ie: the rig being visible) from any built up area. Looking at the mapping of the entire field, most of the best likely drill sites are within view of the shoreline....no point inviting delays from the greenies this close to the start...

This was a great drill site to temporarily appease the green movement and it allowed us to prove that this can be done properly....

Again....great thread...

For the record, I hae no position on MMR as I only hold BUY.

Good luck in the next few days everyone...