Ann: Quarterly Activities and Appendix 5B - June 2023, page-39

You would think CLR would prefer to do that mate, but they would want to do that for a steal.

Doubt BRK management will give the SWISH assets away. So if CLR don't want to pay up a fair price acceptable to BRK , they have to do a deal with BRK . CLR may decide they might want to play hardball and just walk away.

But...

This is where the full field CLR Courbett development to the south is critical, as it will show what the production potential and returns thereof can be. CLR won't be able to try to BS BRK about the production data from the development as BRK are WI partners ( albeit very small) in both a Courbet well ( immediately south of Flames) and the Grapstow well,( immediately south of Bruins and Jewell) as per the latest quarterly . The results may just show that the best return BRK may get is to stay and drill the acreage.





If CLR don't want a drilling JV with BRK and Scissor Tail Exp because as you say, they can't be bothered with all the mess and BS, but don't want to stump up a fair price, then BRK and Scissor Tail could form a JV without CLR, but still pool the small amount of acreage from CLR they need to complete the acreage position for their own JV DSU's. This would force CLR into a JV but without them being operator and small WI participant .... I am not sure if CLR would want to go down that path, especially if Courbett comes up trumps as expected.

I think your thoughts are on the ball, it just depends what game CLR want to play... and if BRK are happy to play with CLR as the boss, or with someone else.

As you say... we sit and wait.

Cheers

Dan