evans shoal & ts getting press, page-3

np madrum

good thing is that TS' profile is on the rise and the Sept renewal date will work nicely to MEO's advantage. that is, ES is pretty much a proven resource so ES partners must demonstrate a clear road to market as part of their application. shell's first half profit got smashed so they are keen for cash - as is the australian govt...

i note that the new MEO market research report suggests that a sale of TS is the most likely outcome - we know that MEO mgt want a partial sale so lets hope that "sale" does not infer a 100% sale...

it would be nice to know when the ES post drill analysis partner meeting will occur so we can estimate when the MEO preso to ES partners is likely to occur - hopefully before the sept ES renewal deadline. gee it would be great for the chinese partner to enter into some sort of non binding formal agreement with meo...

i am v hopeful that beehive will be farmed out and would not be surprised to see more than one partner, given the substantial well cost.

adl