I missed this earlier - couple of interesting quotes:Peter...

I missed this earlier - couple of interesting quotes:

Peter Stickland on WA351P:

"Historically, drilling this play type based on 3D seismic data has a success rate of around 50% across the Exmouth Plateau. Our view of the low risk nature of this exploration has been reinforced by the success Hess has had in the adjacent block to the north with three discoveries out of their first four wells. We believe that we will be targeting generally low risk exploration opportunities when we first drill there late 2009..
..Using those numbers, our share of WA-351-P is easily worth $1-2 a Tap share, which is a transformational event with our stock price currently around 50 cents per share....."

On cash position:
"We are in a strong financial position and can readily fund these activities. Our cash at the end of September was A$47 million, but with a number of receipts received in October our current cash position has increased to over A$60 million. Our production base, which has been impacted by events in 2008 will be back up near 100% by the end of the year. "


...so with WA351P + Brunei are keys to value going forward... I can't believe Im still a believer :( I hope they have their priorities right in their drilling / exploration program - they haven't done anything in a long time to enhance my belief in their executive abilities.