The ann. stated :"Investment in this asset class is designed to...

The ann. stated :

"Investment in this asset class is designed to build upon the proven technical and operational competency, gained through the successful identification, development and sale of the Yellow Rose and Bluebonnet projects."

I guess this means a repeat approach. Buy it cheap, develop part of it then (possibly)sell some or all of it. We know that for tax compliance purposes the play(s) must be identified within 45 days.

My uninformed view is that the news may be upon us before the tax deadline is due because there is a 180 day finalisation deadline and because the market doesn't know what to make of the surprise in the box. The market says money yes, box no.

I'm guessing that I may be pleasantly surprised by the box but you should rely on your own intuition (ie. management trust) on this one.

There will be plenty of cash in the kitty to develop the prospect(s) and quickly unlock value. With so much heavy weight interest in on-shore plays ATM it will indeed be a coup if AZZ have something that has slipped under the radar screens of others.

cheers