arckaringa partner search, page-29

Hi szaba, I think that $300m for seismic and drilling within the defined JV area is nothing more than a ball park figure. These deals will obviously change and be subject to the JV Partner and LNC's final agreement. There may or may not also be extraneous payment to LNC. Fact is we just do not know. We also do not know the results or definitions of other seismic data which has been held back from public dissemination.

I agree, this cannot be held up against the Argentinian venture. However in the end it may seem that is worth pocket change in comparison to Arckaringa. Now THAT would be wonderful.

In the end though, the best thing about a JV is that it makes the whole venture in proving it up as cost neutral to LNC investors. So there is considerable value there in itself for my money and possibly SP speculation.

Although it is exciting and has extraordinary potential to those who are open to higher risk, like Umiat, it is still a zero until the runs are on the board.

Timelines though are hard. depending on how much or many resources are thrown at the JV area. I think 2-3yrs more realistic. Not to say we couldn't get some great results in that time or even start a commercial project there before that.

One think I've learn't (along with yourself and the other longer term holders) about 'Linc and timelines' is simply, 'don't hold your breath'.

Whilst I'm posting, also like to say thanks again for all the gems of info you pull from the Web, they are always interesting and I for one appreciate it, cheers.