Oops, I thought the link Terryl posted was for the old Baillieu...

Oops, I thought the link Terryl posted was for the old Baillieu report dated May 2011. In fact, the link states May 2011

Just downloaded it again today and I see the report is dated 22-11-2011.

""We have upgraded our MEO valuation range to reflect the recent additions of Bonaparte Basin (WA) and Indonesian acreage. Despite applying severe risk factors to new projects, our valuation has increased from 30 cents per share to 38 cents per share.""

( Not far off my own pre H-3 drill sp target of 30cps.)

""It is widely believed that ENI was the party that recently
purchased 40 percent of the Evans Shoal gas field in the
Timor Sea for US$350 million from Santos, with $250
million paid upfront and the remainder paid upon a final
investment decision. As ENI is now funding up to $250
million in exploration and appraisal work in the Heron and
Blackwood fields, it appears obvious to the casual observer
that the Italian energy giant is working on a regional
consolidation and development play.""