Ann: BPH: Settlement of legal matters with MEC Resources Ltd, page-16

Pep-11 sent both BPH and MMR vertical back a few years ago and rightfully so
Big opposition to Santos Narrabri csg in the region
Target is closer to 15tcf P50 gas only 30klm off the coast off Sydney
Santos spent $20billion in the area and achieved little
They have big disinterest to ever see this drilled because if gas found their narrabri is worth scrap
Advent will get bought out by STO before they drill or fund a drill
If they ever farm out Pep-11 to someone like a major o&g operator strap yourself in
The chance of STO funding a well is about 0.0000001% if you ask me
Ill be upping my stake in MMR
53% of advent for $4mio is value for money