may investor presentation

good update.

few good things and a few bad.

. cliff head still a bit behind and not complete until june so may put some pressure on the rig usage for exploration in WA.

. no mention of the Indonesia deal falling through except they would be interested in global expansion but no ideas expressed on where they will try there luck, was disappointing that they raised a stack of capital for this deal and now sitting on cash not using it after diluting shareholder wealth, especially the $ tax credits / share.

. highlighted again the tax credits available for use.

. already known taranaki is the big play for growth and very exciting.

. very positive on progressing Henry development and pursuing further exploration in the area.

. a good chart showing cashflow with oil price @ $US70 would have opened a few eyes.

all up very positive the instos must have got a look at the presentation a week ago hence the price jump.