preopen, page-6

Yes I think the options deal is very good.....for shareholders as well as the NEG contractor.
Lets look at this.
PRE award 9m free options to the current well operator. (for no particular reason....they do pay their contractors I presume!)
The terms are very very onerous!
He must complete 2005 programme (already done except testing of Plymire road well) ....3m
He must START the 2006 programme ....3m
One well must be commercial .....3m
If Plymire road is commercial.....could he be in a position to call this?...hey he drilled the well.

best wishes
belfast