Craig, thanks very much for your excellent and insightful post....

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frmen1

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01/06/17

19:31

Post #: 25049223
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Originally posted by CraigWheel ↑

I attended the AGM. Wasn't many of us, I'd say less than 10 total not receiving a paycheque from the company. Voting was pretty straight forward and then we were supposed to have a presentation but they had forgotten it so Cressey and Mather took turns talking about plans for future.

-Talked about how helpful Carnegie and Co had been and how supportive they are of the company
-Gas by end of this month or beginning of July, contractors are on site working.
-Seemed pleased with gathering the tenements into their complete control, have high hopes for some of the less explored fields to the East as they are the same formation just down dip
-Reminded everyone that 33% of wells drilled at correctly targeted formations in the Surat Basin ended up as producers
-Talked about Uganda being a huge exploration opportunity and the decision should come down at the end of the month
-Talked about the advantages of having the gas storage, have already been in talks with power generators as well as industry about gas supply
-Wouldn't give a percentage of profit per GJ of gas but said that it was "high"

That's about it, or at least all I'll say in a public forum. People don't interpret communication the same but I left feeling positive.

Cheers

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Craig, thanks very much for your excellent and insightful post. Glad to hear that they're still targeting gas in next month. Interesting that Uganda is still in the pipeline; I'd assumed that it would be put on the back burner but looks like it may have just been kept quiet. We have to trust that management know what they're doing about this. I'm still a very strong believer that the restart of Kincora will also be the restart of Armour making a real move. Thanks again Craig.

AJQ Price at posting: 7.4¢ Sentiment: Buy Disclosure: Held
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