It would be stupid to divest the Umiat before proving up the 1P...

It would be stupid to divest the Umiat before proving up the 1P reserves, the difference in value would be very considerable to say the least.

At worst I would rather see LNC take on a JV for Arckaringa, when one considers what BHP paid for the USA shale, selling this without proving it up as well or even finishing exploration seems a little shortsighted.

Odd though we would just purchase more licenses in the basin then turn around and offer to sell the lot.

Correct me if I'm wrong but not only considerable shale iol there, but also coal conducive to UCG. The SA Gov, seems to be encouraging. Sorry but this doesn't make sense to me.

In any case definitely a question to clarify at the AGM if anyone here is going.