My concern is that in the current environment getting anything close to a decent price when selling an asset is going to be pretty hard. Even with the tight east coast gas story still in place, there's just not much new capex budget around at the moment. Assuming oil stabilises around current levels, and thereafter sentiment also stabilises, I think we'd be able to get a better price in 6-12 months time, if we can hold on that long. The 12 month end of the timeframe would also require an extension on the permit. Given we seem to be in reasonable standing having had the JV spend quite a bit on the 3D, and given the overall environment at present, one would hope any extension application would be favourably received.
Just my opinion. DYOR.
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