cuba traction, page-6

lenigas now up to 15%.  news on cuba not far away.

http://lg-cuba.com/docs/default-sou...ds-15-of-petro-australis-limited.pdf?sfvrsn=0

Also new director has involvement with bur _they are attempting to sell US producing asset... either way expect news on this front during this quarter. some form of cash flow model must come into existence else we are going to run out of cash.  my preference is a small producing asset in exchange for some cash - new cash flow under this model will not cover 100% corp costs but will buy long term time and when blended with well timed CR then much better than merger that sees us get a medium producing asset, net cash flow but watering down of share equity of between 5 and 10 fold.

rex latest annual report confirms over 200 potential jvs assessed using their technology - says wonders for beehive as rex states in annual report high levels of success criteria placed on getting through their jv hoops. rex continues to promote greater than 50% strike rate using their technology.  beehive image by rex is either a lot of oil or their colour printer hit a glitch, thought that red ink was out and defaulted to black ink cartridge.... lol

final point is that all the doom and gloom over poo and oversupply brings into play alternate uses of oil and gas other than energy i.e. methanol related products.  low poo could be the driver that blows the capex of darwin lng expansion out the door and with so much low co2 gas then looking for existing lng plant to leverage what comes of all that high co2 gas that eni have spent over half a billion dollars proving up? try doing an npv or orr on $500m and see what that is worth in todays money in 25 years - that is a lot of valuable gas supply being banked only because there is no other choice _ except for tassie shoal.  shell is still trying to sell its share in evans shoal - if this 32.5% goes to either eni, petrobas or a chinese company then sparks will fly on meo sp as rumour mill goes into over drive.

adl