Finder to Quadrant, page-70

Shane Westlake, Finder's CEO said "Finder is proud to have been involved with Carnarvon Petroleum Ltd. (its original Joint Venture partner) in the early exploration phase of a new and potentially prolific hydrocarbon province offshore Australia. Having had two exploration successes now is the time to “hand over the baton” to Quadrant to take these discoveries to first production and to continue exploration efforts. We have great confidence in Quadrant as an operator of choice on the North West Shelf with a strong history of delivering projects on time and within budget. Notwithstanding our exit from the Permits Finder believes in the potential of
the Bedout Sub-basin and as such is prepared to back our technical judgement with a success based payment schedule.”
Jan Ostby, Finder’s founder and sole director said “Our success in the Bedout Sub-basin demonstrates the Finder model works – by adding value in overlooked basins or plays through geoscience excellence and new data. We were fortunate to secure Apache (now Quadrant) along with JX Nippon as initial farmin partners to deliver our 100 percent success rate from exploration drilling based on 3D seismic data in an emerging hydrocarbon province – you just can’t get any better than that!”