Ann: Byron Awarded South Marsh Island Block 74, page-8

I think that everything is hinging on the 4th new block being awarded. That has to happen by the 22nd of June (90 day limit). From there I would imagine that OEL and MEL will farm into the new blocks (which won't raise much cash, as they didn't cost much); and that MEL will farm in to SM71 to cover BYE's cash shortfall. OEL is fully funded following the issuance of convertible notes - so could be full steam ahead very shortly. As a MEL holder I'm crossing my fingers that we acquire a 10% interest for around $3 million (what I see as fair value).