kansas oil deal, page-5

Can't see anything wrong with this ... apart from possibly the timing as POO has fallen everyday for the past week, although if they can place these shares at anything over $1 the capital raising side will have gone very well.

Well AMU is headed for the 1m bbl p/a club in 06/07. Revenues will be not far off A$100m. I suspect ( and hope ) that when they announce the final details on the funding of this deal they will have put some judiscious hedgeing in place at $63+ for the next 12months, something like 20k bbl/month or possibly even more. If Wells Fargo have increased the O/D to US$50m you'd expect them to want some safeguards put in place and hedging at $60 even if oil goes to say $80 on half your production is hardly a doomsday scenario !!!

Get that chequebook dusted off guys for the SPP at $1, don't want to see any shortfall !!!