Hi Wasa
Yes, I was the one who suggested that the NW Europe project was maybe the Celtique Energie's project in the Neuchatel area in Switzerland. Like you the geography does not align with our understanding of Europe but SUR seems to be hell bent on keeping the name of the potential JV partner under wraps: "As previously stated in Sun Resource?s announcement of 10 November 2010, the Board of Sun Resources believes that stating the name of the party to the Term Sheet is not material." I therefore suspect that the reference to NW Europe is a ruse by SUR to keep investigators like ourselves 'off the track'.
From my reading of the March Presentation material I have concluded that the main focus of the of the farm in is for conventional gas and while mention is made to unconventional shale gas it is only as a secondary or tertiary objective - IMO. I therefore do not see any reason to concede that the government approval process is being impeded by Greens or anyone else.
SUR management does not have a track record of achieving any milestones or target dates anywhere near the given original dates. IAOTO that they would have troubles hitting a barn door with a bag full of wheat.
In view of my comments above I will ask/encourage SUR Management to comply with their often published statements: "For more information and regular updates:
Visit us @ www.sunres.com.au Call us on +61 8 9388 6501" and of course the web site is grossly out of date and therefore misleading with the last ASX update being the QR back in April.
Cheers
R1
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