Hi Taipanoblehouse,I think you're spot on. Basically they...

Hi Taipanoblehouse,

I think you're spot on. Basically they probably didn't get the price they wanted for CRUX sell-down, but the company has made it fairly clear in recent announcements that they see value for shareholders for drilling Auriga (low risk high pay off) and then being in a much better position to realise the value of the stake.

I think it's reasonable as the cost to us isn't going to be too demanding. I think short term 2 things:

1. sort out this litigation with transocean; and
2. sell down part of longtom.

Those two should get us back in double digit cents. A decent result on Crux next year should get the price back to 20's (based on a good result). We've also got further Longtom infill on the way.

A Robert