Ann: Update on Strategic Partnership, page-22

have also spoken with PXX and they confirmed the views outlined above. Technically it was recommended but corporately it didn't get across the line. Whether Lundin made that decision for strategic or financial reasons or both, who knows. Don't expect Lundin to let much out in relation to why the made their decision either - it's just how things roll at the bigger end of town. It's not material for them and therefore no need to say anything.

Of more concern is what does PXX do now? Difficult place and although they say they'll find a replacement JV partner, it is definitely easier said than done. As a result, and as much as I'd like it to to be different, I can't see a lot of field activity in 2020 unless they pull a rabbit out of the hat. If that's the case, overheads need to be reviewed and cut quickly