Ann: Appointment of OBL as manager of VIC/P41 Far, page-7

re: Ann: OBL: Appointment of OBL as manager o... Well they have INTENSIFIED their search for a farmin partner with the ann this morning.

Seems like they must have a few interested parties as well considering the definite farmin terms. Part of the terms was "for a minimum 100% free carry payment of at least one or more wells".

Surprised there is little interest this morning in BAS being the operator and 45% owner.

If they get a farmin partner which does seem likely, (these guys arnt silly to just put it out there with terms like these) BAS could really, really move big time imo.

The Aussie market is a funny one at times!Lol

OWNERSHIP
The Vic/P41 Joint Venture consists of:
Bass Strait Oil Company Ltd 45% and Operator
Moby Oil & Gas Limited 30% (reducing to 25% - subject to farmin by OBL)
Strategic Energy Resources Limited 25% (reducing to 17.5% - subject to farmin by OBL)
Oil Basins Limited, or nominee 12.5% (subject to farmouts by MOG and SER)

FARMIN TERMS
All Joint Venture Partners (JVPs) are now looking to farmout equity in the Vic/P41 permit in return for funding exploration drilling in the permit. Farmin terms are negotiable, but will include the ability of the duly qualified third-party Farminee to earn a significant interest in Vic/P41 for a minimum 100% free carry payment of at least one or more wells and Operatorship to be immediately granted upon executing the Farm-In Agreement with the JVPs