the key thing for me is the nature of the farm-out. management...

the key thing for me is the nature of the farm-out. management have shown that they can achieve first mover advantage among smart majors aggressively exploring the region. this isn't the seychelles. we have multiple independents with serious track records operating successfully in this region. the fact that our lease is surrounded by kosmos says something. having anadarko onshore down the road says another, but as you start to put things together, the big picture is looking mighty good. kosmos and anadarko along with tullow oil discovered the billion barrel jubilee field, are developing it and are actively looking for more. they are the market leaders here with the most advanced knowledge and experience in the style of deposit. they have a track record of operating in ultradeep water.

pvd hold all the power here. you can bet kosmos, anadarko and tullow will be all over this and doing their best to outbid the other. these guys think big and i can't see them letting this chance go by. they may even pursue an alliance.

this isn't a case of a small company with billions of shares staking their fate on finding someone to take on the exploration risk. this is a case of a very savvy junior sneaking in ahead of the majors and being in a position to play them off against each another to achieve optimal terms.

best thing of all - this is ground floor investing and with so little stock around, when news spreads, the rush for a slice will be like fat bogan mums army rolling under the shutters at the start of a target toy sale!!!!