Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-7

The new tax incentives are codified already, the whole tax policy is green friendly in that it provides a windfall tax for the govt to use, and the Fossil Fuel industry gets a tax reduction via the exploration incentive side.. essentially allowing the producers to gain value by finding more oil which in turn helps stabilise the European market in the transition away from Russian supply (russian oil ban etc). After chats with industry professionals my understanding is that producers will in turn start punching holes closer to their infrastructure instead of total “greenfields” type plays.. This is where FDR shines because our business model is based on ILX (Infrastructure Led Exploration) - finding under-explored prospects close by to existing producers and then generating high quality targets by applying new exploration techniques and updated modelling

btw check out who we are already JV’d with on the UK assetsHarbour Energy (FTSE 100 Company)
SP: $800 AUD
Market Cap: $7 Billion
Producing a casual 200kbblopd (200k barrels oil per day)
UKs biggest oil producer

Dana Petroleum
A private Oil and Gas producer owned by the Korea National Oil Company
Producing somewhere in the region of 50kbbloepd
So, once target generation is complete and potential resource estimate is established there is considerable optionality for drill funding, either by these groups or farm-in of third parties to spread risk.

Put a magnifying glass over the Quarterly and you’ll see figures like 500Mbbl potential over a couple of the sub-basins on one of our UK projects.. next to Buzzard.. talking some seriously potential systems thereBasically, have a really good feeling about value creation with FDR.

As for the comment drop of that other forum, that was me, but I wasn’t the cause of the push. FDR is just being monitored by a number of higher profile people in the investing community, from what I can tell.

GLTA