Minoil. Yes we can speculate the impact of a farm in partner on...

Minoil. Yes we can speculate the impact of a farm in partner on SP and MC in hopes things will work out. Pray more likely.

I am seriously concerned over the FIRM work commitment that EMP committed to. $27 million is a huge amount and a small company is irresponsible in making such a commitment. I fear that they have fallen in love with the Judith gas and made the decision from their heart and not their heads.

The work that APA did and the drilling planning is just froth and bubble with limited value other than to give hope to the uninformed.

Have completed my reading and research and have the following conclusions
1. The gas is there, the two wells intersected gas And it could be big.
2. There is no hard data on the gas composition and more importantly the production potential of the well.
3. EMP has committed to a huge firm work program that they cannot afford without a farm in partner
4. If they do not complete the firm work commitment or at least drill the well they will lose the block. This happens in Aug 2023
5. The Pre feed estimated 51 months from FID which can be translated to first gas in 8 to 10 years
6. The company mandated Ocean Reach Advisors two years ago to find a farm in partner with no results to date.
7. With every day that goes by without a farm in partner, the lease expiry date looms larger and the chances that they will either have the ASX breathing down their necks for “trading while insolvent” or they will file for bankruptcy. Either way they will lose the block
8. The EMP story is bleak and approaching hopeless if the farm in initiative is not successful soon.

I know the two big posters on this board will not agree but that is what this board is all about