Ann: Operational Update, page-220

I agree. I was not happy with the unholy haste to sell off the interest in the Carnarvon Basin because he thought he could cash up and just focus on developing Rafa. Premature move in my opinion. Getting the Carnarvon Basin interest was a great achievement that probably took a lot of effort and patience to achieve in the first place. Gave BRU much more O&G optionality which is important for an explorer. BRU had knowledge & human capital Min Res needed. Much greater chance of a favourable future fund raising if that interest was maintained in my view. Too late now.