no worries for tp/15 farm-out, page-11

I listened the "BRR" 10 times, I still feel sorry for the sellers. Not only farm-out is not a problem, but also NWE is still the operater.

Some people worry about the timeline, actually as long as the drilling plan can be ready in Q4, still ok. Half year to go, clearly NWE just doesnot wanna miss the shale gas potential, otherwise farm-out already done---this is clearly stated in last quarterly report.

If you always doubt the farm-out, tell us your reasonas?

Reserve too low?
Cost too high?
No infrastructure?
Survey result not reliable? (NWE did it twice)
No shale gas potential? (what AWE is doing now)
or Oil price too low?

NWE also start to farmout Wessex basin, this could take more time, but I think as it located next to 400 MMbbl proven oil field, no problem for the farmout as well.

It's my opinio, puffin plus wessex basin already worth 4c per share.

On the other hand, to be honest, I still welcome the big sellers. I am ready to top up!