A clear strategy, or not, of doing not a lot and waiting for "the deal" in both locations.
Mongolia are we selling and or JV, clearly some flexible language been used. One has to ask after all that cash and effort and first move advantage why did we take our eye off the ball, the pilot has been poor BUT had it remained the focus !.
Reference to Shell slightly oversold and they, nor anyone else, will not be looking at the coals - what were the flows we keep making refence to them but no numbers !!. You can go anywhere in the world and come up with these GIP numbers for coal so would prefer to focus on yes we are next door to Shell site and between Shell and OMA and our appraisal results are indicating similar geology and TGS targets.
A large Tier 1 energy company like Shell will always spend massive for little output far better to use OMA as a marker of real costs, junior explorers always do it better - the investor market are all aware of reality of exploration and how many time you can go around knocking on doors so unsure of the pitch.
There was a post early another EXR thread saying in for the long haul and the truth is most of us are because we have little option, but as we move from red to green the longer term holders will be out.
As for Grandis and our other areas I would like to see more emphasise on our TGS play against the overall basin and other operators similar targets.
EXR Price at posting:
5.5¢ Sentiment: None Disclosure: Held
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