Ann: Presentation to Euroz Hartleys Energy Forum, page-42

Charlie123456 posted "Iain spoke...Said they are excited about what they are seeing on the 3D
Said they have enough cash for a couple of years, and that they are confident that WDS will exercise their option and drill a well."
Some of us have issues with Iain Smith and Ernie Myers over what they did as management of another Western Australian Oil and gas company .... but I will say that Smith was always on the money when he was presenting information to meetings of that company.
For him to stand up and declare that they are excited by what they can see from the 3D seismic data that they have access to is IMHO big news.
I have reread the presentation sheet and I'm getting more confident/excited as I digest what is being said.
Those nervous nellies who are looking for any argument to cast doubts on the progress of this adventure are investing in the wrong place.
The timeline is nowhere near close to expirey and if the 3D seismic results are as Iain has indicated there will be no issues IMHO with renewing the permit.
The expenditure by WDS in the release was $35+million.
If you do the maths it was originally 5000 sq kms which equates to approx $7M per sq km. They ended up doing 6500+ sq kms so that takes the expenditure to close to $50million.
WDS IMHO are very serious about this play because if they weren't they would have trimmed the seismic area instead of expanding it.
I think we are on a real winner.