Development land play mantra still very much exists and is one...

Development land play mantra still very much exists and is one of the pillars. Plan is still to develop the DSU's and sell when the right conditions exist. Only difference or change has been an increase in company interest regarding production for 2 reasons imo. 1 Other funders were dragging thier feet 2 The market has shown greater response to production revenue.

@geffa9 It is my understanding that offers are regularly fielded by US operators but are not offering enough, trying to get land on the cheap or expecting a distressed company....clearly not the case...once production is proven they may increase thier offers.

However that said being US majors cannot just perform a takeover of the company, the company must agree to sell the assets and will only sell when the conditions or the price is right for shareholders. A takeover would in essence need to be fielded by an ASX company wanting US exposure or adding to an existing asset base, this would be in the usual manner. E.g buying shares and increasing a position towards a takeover...or by tabling an offer.

And as you are aware the assets by acreage, production etc that are on the books via the three pillars including the JV value would cost a fair penny to take off our hands.

@TheProfessional had a table of calculated value pre Orion JV and would be interesting for him to provide an updated cost and asset analysis

Hope this helps.

Keep well cheers Paul