Hi IAMThanks for the links - will make for some good weekend...

Hi IAM

Thanks for the links - will make for some good weekend reading.

I have not heard back from the broker - today with internet trading, brokers appear to have become mere agents for the ASX companies they write broker reports about. Who is the client...

As per my earlier post, when you include the FID bonus, ENI have to pay a far greater premium for Heron for 75% (i.e. two very deep and expensive wells) but ENI only have to pay for ONE (much cheaper/shallower) well for 75% of Blackwood. IMO, still consider Blackwood a no brainer after the additional 3d run by ENI (and Blackwood v similar to ES); imo Blackwood drill decision was only delayed to put the heat on MEO re 454. Don't forget the call on Heron's second well has to be made late Feb this year (i.e. not long after the blackwood decision)...

IAM - what are your thoughts re cash and the likelihood of a CR in the coming month(s)? Can't recall 454 3d cost...

Thanks

ADL