get on b4 its to late!, page-17

I guess there are many maneuvers yet to develop in Coe's Madura campaign, I wasn't at the agm so can't interpret a farm down from what's presented on the latest presentation, but granted a farm down is very possible and it could be done before the drill (more likely) or after, if funding is required for appraisal drilling or to develop infrastructure. There may be farm downs or dilutions if funds are required for development, but I was trying to demonstrate the huge up side that is possible should COE be succeed with the P50 assumption for Madura, and A$10 for undeveloped oil reserves is a very conservative figure try using A$20 and the sums are embarrassing. cheers