That's why a timeframe of 12 months has been outlined. Doesn't...

That's why a timeframe of 12 months has been outlined. Doesn't necessarily mean that the B/B has to proceed for that long a duration. Entirely upto their discretion to cancel the b/b once a sufficient level has been achieved or if the company needs funds for its projects. They need to lodge form 3F to cancel the b/b at some point in time, still very early days & since the price has run up wonder why MAQ would pay a higher $ for the buy back.

ORG had annc'd such a grandplan to b/b over a bil$'s worth of shares back when COP paid them a motza for APLNG, this was eventually cancelled 5 months later with a fraction of the bucks spent on the b/b. Here's the link to their trail of 3E lodgements on the ASX.

http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=org&timeframe=Y&year=2008

I'd rather see KAR pay out a special divi say 20-40-60c (under $100mil basically), prove up K2 reserves & lay the carrot out for a potential T/O scenario.   

COP moved the Transocean Legend rig to its cashcow project in the JPDA, so its all over in the Browse.
Drilling 2 new wells at Bayu Undan with STO-ENI-Inpex JV, which will keep their Darwin plant going till 2028 (additional 5 yrs of additional sales gas to the Japs after 2023). Don't know why ORG haven't released an update on the testing at Pharos-1 hope it wasn't a technically challenged test. Hope to see something abt the Browse expenses reimbursed to KAR at some point.