Ann: State 16 Well Status and Development Update, page-8

Yes, I was trying to ignore the cr question as it's gonna hurt a lot more then by any offset by a little bit of 'possible' initial incoming revenue - which is still a while away judging by no definitive talk outcomes. At a guess, the dilution may arrive much sooner. If the announcement is intended as a precursor carrot then it seems all rabbits and horses are already fed - thus the meh response by markets.

Not sure why references are used to compare with the adjacent Red rock development - it sounds like: my neighbour has a beautiful lush garden and I'm sure my garden will be just as lush.

Perhaps it would be better for company to focus on one's own dirt patch - start by definitive offtakes instead of just many months of talks. Maybe the neighbour already has a nice patch of carrots harvested. BNL is still looking for the seeds.