Ann: 88E AND XCD TO MERGE VIA RECOMMENDED TAKEOVER OFFER, page-65

JH,

Just posted this on the LSE to another holder but it feels apt here as well.

I expect Dave will release some prelim results as an attempt to pump the story and there may be some gains to be made. However, the end of financial year in Aussie is 30th June and typically that sees a lot of shareholders trade out of loss holdings to claim the tax offset.

I have a feeling this year will see some increased activity around this pivot point and the share price may see some downward pressure. It's currently at historic lows, will they be broken?

Dave will try and sell a story to maintain some positivity, especially around the XCD merger story and how good the asset is and the potential based on the current market lows.

Make no mistake though, money can/will be made here. I think it's possible based on the price having tested 0.005c a number of times that 0.003-0.004 is possible. Especially during the Northern Summer and a period of operational inactivity.

Buying at those levels should provide a great return by year end, as by then plans will/should be in place for any activities next year.

30%+ I reckon

I think any announcement around the condensate will be that, we have a commercial 'sized' discovery but in the current climate it is 'economically' uncommercial. The oil shows in the Seabee require further drilling to delineate, most probably from the location we originally permitted but PMO deemed unsatisfactory(they were chasing the Torok). The HRZ shows good promise but will require further lab work to confirm. The expectation is that the current oil pricing is unsustainable and will return to a range somewhere >$50 bbl and at that price the economics of all projects look markedly different.



Cheers, hope you are well mate