Ann: Surprise Project Development Update , page-3

Nice,

Probably 1 week late for the SP going below the 15.5c barrier.


As I said, Finance is our only way out.

Get the job done and there will be many willing to invest Internationally. If we get debt, we can pay it off or just service it. A JV with Santos etc, etc we can never shake off, and we can get muscled out.

$1 today is 50c tomorrow. Debt is the only way to go here.
Oil is $100 today, it will be $200 in the future. Ever wondered why Energy Companies trade at 20+ PE's when Conventional Oil is running out.

If it is organized asap to 'bankable standards' this will be the only way the SP will rise enough to get the oppies exercised. Don't know why he keeps on showing his cards here that we are depending on our JV's/Farmouts results. This is our weakness. He should keep the market and the sharks in suspense.



Results by Total and Santos will be kept hush hush so they can try and muscle us out when our turn comes to stump up the cash.


The tying up with Santos to the Meerinee I didn't like the sound of.

No Way if it involves giving away part of the Surprise Land.

No Way.