As far as im aware the meeting for the forwards program was only...

As far as im aware the meeting for the forwards program was only scheduled on the 30th January - lots of parties are involved and each has their own agenda so this takes time to finalise.

Realistically it's obvious that it's in the companys best interests to attack the oil first based on the fact it will give them the revenue they require to maintain/and or accelerate the campaign and have less future reliance on capital providers. If I was in that position - I would be pushing for Johnstone to be drilled asap.

There have been discussions here previously with the preference they go drill CBM while the markets hot. This market is not going anywhere in a hurry and that said will take several years to turn into an ounce of revenue for the company. Now drilling for CBM has had the benefits of bringing in new partners and it was a good move and timing by heugh - but drilling for CBM, and having the SP potentially ride the back of it to the pleasure of shareholders does not help the bottom line organic financials of the coy. That being said it would however assist in accessing capital from DBZ or another provide for instance and limit the dilution this causes.

The DBZ facility is not entirely dead, if the SP were to trade back up around the 15c level then funding will no longer be an issue - though the company would no doubt be keeping its menu open in terms of other financial avenues it could pursue.

These may include the other partners (which we know they have been talking to for quite some time), other capital providers such as private equity funds, potential share issues/placements etc just to name a few.

Id asssume there would be some pretty reasonable announcements in the coming weeks, maybe funding or partner agreements, the potential coal tonnage (which I can assure will be interesting regardless of the lack of gas content) and maybe even the drilling program announced by early march at the latest? It should definitely an interesting 4-6 weeks ahead.