Chaps, great discussion. I place no value on a Farm-out(not...

Chaps, great discussion.

I place no value on a Farm-out(not because it has no value), simply because I don't understand it, how it's done or know how the market will react to it. Also the timeframe is fluid.

Agree that there is "something coming" though, as discussed on another thread, the Bookbuild will be turned over, 30 mill days are not enough and to risky. Volume will come whether via news or constructed by the instos.

Winx though is a different beast, prospective oil resource is 144mmbo, should this play out, I apply a tentative $3bbl value to it, purely due to the fact it will prove an extension of the already successful Nanushuk play. Highly desirable area, as evidenced by the surrounding current and planned activity, Oil Search, Repsol, ConocoPhillips.... they all want more.

$3bbl, equates to over $400mill of value, based on SOI of 6.3bill, some rampant trading/posting(read, mine now) I envisage 6-7c.

That doesn't consider a Farm-out or Yukon.

When DW offered shareholders the Rights Issue, it was too reward existing shareholders for what is, a potentially transformational 9 months.

I'm more than comfortable with where we currently, after the disappointment of Icewine2v. North Slope conventional oil is a known entity and it has proven value, it should make us money in the next few months.

How's that for a ramp? Did I jazz it up enough?

Of course all the above are my opinions and should not be treated as anything other than my opinions/guesses/hopes/dreams.

Cheers.