ASX Today, page-1921

I enjoyed this post by Phrontist on LSE
Thank you Phrontist.

Deafcon

'I know there will be a lot more than 8billion barrels there'

I agree, and PB/DW reckon this is a site for 40 years working. All of this oil is not going to appear in a year or two, it is a major site for a major operator, at some time. A major with substantial capital resources to be able to install, commission and operate 200+ wells per annum.

How do we get the 'transition' from our ownership with no wells to a major's ownership doing many wells?

We have to provide the fullest possible 'information pack' to a new buyer so that their subsequent investment brings in returns thick and fast. This 9 to 12 months is about providing that Info Pack. I have the fullest confidence that the 88E / Burgundy / Accumulate Team will complete this exploratory work as professionally as is possible. This will maximise the sell-on price, which is effectively 'our reward'. Sometime in H2 2017 seems likely, particularly if POO has risen and looks as though it may continue to rise for quite a while.

Thats it. 2.x p now, 20p-plus mid 2017, 40p-plus during H2 2017 as a sale closes.

ATB, P