artemis...the hunt is on, page-13

Don't count on any announcement soon about the farm out. I was in touch with the coy today & I got the clear impression that there are no plans to make any announcement until the Artemis farm out agreement has been concluded.

Also,contrary to my previous optimism, I am now confident that drilling will not commence this year due to the planning/approval process. 2nd (or even 3rd) quarter next year seems more likely to avoid the cyclone season. Looking at the upside of this timetable, we'll have 6 to 9 months of opportunities to top up on any price weakness.

We may have to wait until this time next year until we know the outcome of drilling Artemis.