Ann: Increase in Lockyer Deep Potential Resource Area, page-146

April 2021 NWE announce it is offloading its interest in exploration permit EP413 to better focus its interest on EP368 - EP426 & TP15

October 2021 NWE announces its is discontinuing its JV obligations with TP15 and handing over as operator to TEG - To better enable the company to focus its efforts & resources on the high - impact onshore permian potential across the EP368 & EP426 exploration permits.

Obvious after the LD1 discovery NWE wants to concentrate on its remaining permits, but interesting that possible oil plays have been removed from the agenda. Also still no further reporting on the promising oil shows reported in the LD drill in the initial announcement ?
Can this be interpreted as NWE cleaning it self up as to its exploration objectives ?
Now to the TO question that just can't be ignored - MIN owning approx. 19% of NWE provides a block for other predators but also puts MIN in the box seat, nothing new here we all know that. But this JV appears to progressing amicably and has done since Shelley jumped ship. Almost like it was scripted ??
If all eventuates as expected and you look at the advantages/ disadvantages for both parties in the JV, well plenty of advantages for NWE I can determine, but finding it hard to say the same for MIN.

I did think and hoped not, that the TO action might have landed early to get a bargain price. The longer it goes the better, as the resource is proved up, so does the buying price go up $$$. I just wonder if all goes to plan does this very compatible JV have an agreed TO price & date scenario.

Not going to offer a price, but I think the date would not be long after acceptable flow rate disclosure.

Just me thinking around.