Ann: Octanex Awarded 4th New Zealand Exploration , page-9

re: Ann: Octanex Awarded 4th New Zealand Expl... Haven't totally understood the mechanics of the CUE share distribution, however a couple of points that are of interest to me and I share them.
For an individual shareholder of OXX, if their holding in OXX is such that their CUE distribution was less than 1000 shares, or that the holder was outside Aus or NZ then they are to receive the cash equivilent. Based on what?
I presume the VWAP over some period just gone?
Means of course that OXX will have known from its register who was to receive the distribution in shares and who in cash.
Presumably the cash component was to come from the sale of CUE shares held by OXX. Part of the 43m CUE held by OXX.
I wonder how many CUE have been sold by OXX? The need to sell shares to raise cash - depressing the SP leading to a lower VWAP and cash distribution? Would this have slightly disadvantaged the small shareholder in OXX, those receiving the cash instead of shares?
Some talk over on the CUE board regards CUE being held back, capped, shortsold?
Would be interested to see if OXX has been an active seller of CUE,
OXX has held up well, although, day to day SP sumwhat meaningless as OXX so thinly trade.

Don't want to use the high estimate as Camry has done however Camry is right. This is one exciting stock that is well below the radar. Winchester is not a wildcat. The gas has already been found but wasn't tested due to a broken anchor chain. Winchester is about 'how much gas' and is it 'commercial'.
Using mid case estimates OXX's share of Winchester could easily be 500 BCF plus condensate in a very strategic location. The numbers on this are eye watering. Not in the bag by any means but this is not a wildcat either.
OXX is so exciting.
Shell drill to look forward to.
There will be drilling in Taranaki with OMV, guarentee it.
Cornea with a 6o mmbl contigent resourse is too big to be ignored.
Southern Bonaparte permits are looking better and better all the time. Survey's done. Check out the activity on the borders. Especially WA-440-P. Check out MEO.
There will be farmout's on favourable terms I'm sure.
Lots to look forward to, esp Winchester in near term. Santos are not stupid. Very good chance of this one being a commercial gas find.