Hi Leo,, Perhaps i've confused you by the way that i explained...

Hi Leo,,

Perhaps i've confused you by the way that i explained it mate.!

If you reread my post, you'll see that Petro bought 95% of 5102 acres, and the 262 acres is the theoretical numerical amount that they did'nt buy, because AZZ can't sell what they don't own..

Why did they bother..??.......well they are trying to tie up as much lease land as they can in that area,,, and also the undisclosed sum of money paid to AZZ, would not have been very much mate, certainly not $ millions , or anything like that.!

It's an unproven lease, and therefore an unknown realistic value, until explored..!

Lodgically, i would expect AZZ to not buy into the very first well, but wait for the outcome and then buy into the second..!

Why would AZZ sell..?? well i can only speculate on that, but a company can't just sit on a lease endlessly and do nothing,, because there is exploration expenditure obligations to conform to , so as to retain the lease.!!

It's not a bad move by James, because Petro will now fullfil those obligations, but still allows AZZ to buy back part of the action further down the track..!

Cheers Leo..!