Yup- we all were- Boat parties, Fezzas and Lambos etc etc.
But the reality is that it's going to take a lot longer and a lot more capital to crack the code in Mongolia, than we all initially thought.
ALL of us- EXR management, we shareholders, and of course, the market.
It bites...it really, really bites.
However, that's prospecting- and nothing in this game is ever guaranteed- and it's laden with risk.
We all know that.
However- getting the PSC off our books enables a prospective party interested in our QLD assets to look at us more seriously now we are unencumbered by PSC activity commitments and all the associated cost and effort that goes with that.
IF we had more money in the kitty we could keep chasing the enormous gas deposits and build up our contingent reserves- but we have no wonga.
So...IMO...whilst deeply disappointing, we move onwards.
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