Sydney IP

Wow what a knockout our MD is! Very capable, charming, and great with people. I reckon that she was probably very glad though at the end of the night, to toss off the high heels and throw down some Veuve while watching the end of the SOO!!

It was great to meet a number of the HC crew .. Zacma, KKW, redal, BigStockPunter, Philip, Gumnut and others.

Quite a lot to report by way on minor pickups in the presentation, Q&A and later offline. Nothing major though. Not a small job as OOO and Mandurah can attest so I'm afraid it will be tomorrow morning sometime before I have put it together. So just a couple of interesting bits of "news":

Signing of the rig contract is very imminent.

They are looking at interests in 2 other blocks where current JV's are struggling. One they are serious about and they are close to a deal. Aim would be to identify SNE look alikes and then farmout to the majors again (with a larger reatined interest this time).

Cath explained very well how SNE should grow in size from appraisals .. more on that tomorrow.

Two classic comments:

"We came close to corporate death during the drilling of FAN when there were big problems with the Blow Out Preventers (BOPs). In the end they moved the rig 200m to jolt them free ( thats what some of us saw on Rigzone) but it was only 48 hours before the well would have been abandoned and FAR would have had to go to the market for more cash to drill it again. Share price would have gone to 1.5 cents!! ". So ... I reckon we should all be grateful that we ended up with such great success and the share price is 10 cents! And ...

"Can we go all the way to production ... yes we can. But to be totally honest will we ... probably not.

More tomorrow.

H