positive news, page-2

thelocalbloke - I with the vast majority I'm sure are just happy to see something positive with yesterdays ann.

At last anyway in my view the Lease issue is out in the open. They are ggp's post March much to the surprise of some - not surrendered. Not lost. A prime asset the main reason most are still in the game.

So -

1. The Lease issue - not resolved but extended for 4 months.
2. Reserves - again protecting what we have got even if the balance area of leases is lost. So retaining part of the PB containing our proven reserves.
3. Farm-in - discussions under way. Seems to suggest SG hard at play here.(No mention of Legals though with Petro/Page)
4. Approved $7.5m available - and discussions underway for future funding.
5. Funding secured for SRH#5 frac - and sort out the problems with 1 and 2.

I'm not trying to say all is rosy it definitely is'nt but it is a damm sight better than what it was last week.

And we have more significant ann's due before the end of the month.

Just a thought acreage - would you totally discount Petro/Page as the Farm-in as part of the settlement of his claim?