Ann: Daydream-2 Operations Update, page-250

@Grfe4

I meant sales as in asset sales...if an offtake sales agreement for Grandis popped up then of course, it would enhance Grandis asset attractiveness.

However- in lieu of that I'd rather a partner comes in (on decent terms, ideally with some cash to avoid us having to go another CR) and we drill DD3, and it flows viably, we de-risk even further and we add to our reserves- and by extrapolation, increase the total asset value of Grandis....with a view that our partner then makes a move to take Grandis off our hands....with the absolute ideal scenario (post DD3 with enhanced data, further de-risking, increased reserves etc etc) another party/parties want to compete for Grandis ...that would be the ultimate....knocking back the 1st bid from Shell or whoever our JV partner is....and having a competitive bid process that squeezes every bit of blood from the stone - get Cottee to really show his worth.

A successful DD3- funded by Shell or whoever our partner may be, perhaps that US mob Bas has highlighted- heck it even might be the Flannery's & Tri-Star- should in theory add significant weight to our value (assuming of course DD2 goes as we think it should do!) ....offtake contracts post that would be enhanced IMO , and remembering we might have Origin wanting to throw more moola at us so they can bury their carbon- all contributing to enhancing our asset value.

Having said all that...don't mind really- whatever is deemed the fastest and most appropriate strategy to absolutely maximise Grandis value that then triggers the highest take out bid is what I'm after (well....probably all of us really!)

This game is so hard to win at- so much time, capital, risk involved...most efforts fail.....so when we have a winner- we need to ride that baby as long and hard as we can to get the absolute best return for us long suffering and (mostly) patient shareholders

And...yes to your thoughts on Mongolia....still a very long way to determining "real" asset value there, given the size of our PSC and the potential tcf in ground.