"Anyway, I shall put my money on Cath to negotiate an outcome...

"Anyway, I shall put my money on Cath to negotiate an outcome which meets the objectives of all parties."

This in my opinion is a very very interesting note. As i mentioned the other day, they know exactly what it is going to cost to drill these appraisal wells, and Cath would not comfortably be able to negotiate this without having the "WAR CHEST" and a good idea of where they can get the cash from.

2016 is also quite realistic for a platform delivery station, and it would be quite interesting to see this happen - if they do their appraisal wells and use these as production / injection wells then they could get production happening and continue to drill more production / injection wells etc further into the lease as they have some spare cash.

Its a bloody good story in my opinion.

GLTA