There is good potential here I think.cheers...

There is good potential here I think.
cheers notthemama

Implications of the RDI Farmin
• Strategic alliance with Resource Development International (RDI)
– Covers all permit areas
– Timor Sea undertakings contingent upon RDI IPO
– IPO to raise at least $5 billion - UBS & Macquarie appointed
• Who is RDI:
– Sponsored by Mineralogy (Prof Clive Palmer’s private company)
– Strong links to Chinese investment sources
– Vending ~20 billion tonnes iron ore, nickel and energy interests
– JV’s with MEO form bulk of energy division
• MEO funding uncertainties now largely resolved
– 25% interest largely free carried in up to 9 wells on NW Shelf
• Multi-Tcf Zeus-1 well spuds late October
– 20% free carried interest in Timor Sea projects
• Staged earning approach
• Initial stage - 2 appraisal wells in NT/P68 (2Q/3Q’09)
• On track to developing value-added gas projects