Ann: Sale of US and Cooper Basin assets, page-16

This is the key component of the announcement:

“Given our current debt size, repayment schedule and an upcoming reserves recertification, the ability to access additional capital and continue as a going concern is uncertain at best. Therefore extinguishing our debt and extracting some value for our US and Cooper Basin assets is the best option available and will provide access to sufficient liquidity to allow us to assess the best options to progress our Western Australian assets.”

"Upon successful completion of the transaction, New Standard intends to continue its ongoing discussions with other parties to seek funding and a suitable partner for the Company in its strategy to unlock the potential value in the onshore Canning and Carnarvon Basins, through its Southern Canning, Laurel and Merlinleigh Projects. New Standard remains a 100 per cent shareholder in all three projects, providing it with a significant footprint in two prospective onshore basins and substantial equity to underpin additional corporate activity."

Canning Basin Project is the key project of New Standard whether some guys accept it or not, I don't care. There is huge conventional and unconventional oil and gas resources out there. What happened to NSE has happened because of that, manipulators who know the value of those assets didn't let NSE share price to go up, they put it down.  

Merlinleigh and Laurel Projects are not key projects. Merlinleigh can create a short term value for us if we drill it and find gas. However Laurel is a very long term project. I wouldn't touch it. It's a project for a big boy but not for us.

By the way I was watching and analysing Sundance Energy in the last couple of months. I was thinking to buy SEA shares as I believed the oil price would recover one day. The price was around 70c that time. I waited to come down to around 50c. I liked its assets and operation style. Coincidentally now they have bought NSE's US and Cooper assets. Good on them. I will now buy some SEA shares.