Had a decent first pass read. I've changed my opinion the...

Had a decent first pass read. I've changed my opinion the announcement that PNOC has farmed in is massive when it's announced. Should go north of 2 cents at
least! Really don't like the word imminent I've been burnt by too many small caps saying something is imminent Fairstar resources ruined that word for me seen a number of other poor examples since where imminent turns into years or never lol.

They've barely skated through in the Phillipines trying / well succeeding(so it appears) in getting the two well appraisal program up. I guess been a bit hard on Gary he's probably had sleepless nights over continuing to loan money to the company for this Phillipines enterprise. I can still see Phillipines or US warships in the area when they tackle SC58 in a couple years. If these guys really want a stake in balyena drilling they have to make some serious cashflow next year or two as PNOC and blue sky will be aiming to keep the drill ship going all the way to SC58 once it's in the Phillipines.

My query is what money is coming back they get USD $700k on sale but the pipes from memory was $2.9m and they are clearly still paying out to progress or pay the Phillipines office for nido since July. Then it becomes what have they actually got on the table going forward to use that $3-4m on to be near the $30-40m
they might need for SC58. Hopefully they can escape this zombie company asx list and get some substantial revenue and prospects. Be nice if they could actually have constant news flow about drilling and chasing the bull market on their tenements or with other juniors we will at least likely get some updates on Phillipines drilling even if we are 5% royalty holders.

It worries me they hint at Australian opportunities gas and oil in North America is far more attractive imo than Australia. Like not farming into bounty's pep just because Kane is from there. Anything in the Perth or NT basins is undesirable it would need to be highly prospective and near the east coast or at least close to
east coast gas pipelines.