Ann: Jacka Executes Farmout of Odewayne Block , page-8

Agree kastin. This is a good result given the mess JKA have found themselves in, but it's NOT a good result to be reducing their share so low simply because they are desperate for cash.

There is multi-billion barrel potential here, and they've just given up 15% of it - potentially many hundreds of millions of barrels of oil - that they could have held onto.

Just another reason to lament the poor handling of HW-3. Oh well, it's happened - time to move on, and in that regard, this is a pretty good result, even though most of the money won't come in for two years or so.

However, they have done well to get any upfront cash for a frontier asset. It says a lot about the prospectivity of Odewayne. Hopefully this will avoid the need to sell Aje.