This is an extract from the last quarterly concerning this...

This is an extract from the last quarterly concerning this permit:-

"WA-368-P (Nexus 50%)
Perth Basin, Western Australia. Yngling is an oil prospect with a mean unrisked resource of 90 MMbbl. Nexus is seeking to farm-out equity in the permit prior to drilling the prospect. However, a further permit extension has been
applied for due to a lack of a suitable drilling rig over the upcoming summer months, being the preferred drilling weather window"

As AWE is the JV partner holding the other 50% of the permit wouldn't the same implicatios apply to AWE also? It seems to me that we have a good case for the 6 month extension to be granted. I'm not sure though of our chances in farming down our 50% interest but it appears that RC would be happy to give it away.

ANZ