Good day...,Thanks for your note.ODIN ENERGYI believe, (which I...

Good day...,
Thanks for your note.


ODIN ENERGY

I believe, (which I support) the move to finally terminate(instead of a further extension ) the Odin farm in came from VPE top management-in simple terms the issue was put to Odin if you are “serious” please show us your money(real money because it would be our JV that would have to make the commitment to the drilling contractor.

The matter has been dragging in on with Odin for some time.

ADVENT

Likewise, same as Odin



But ,by the way ,not all is lost, there are other players out there who are interested, perhaps not on such good terms—The Cooper Basin gas plays are for players with cash.



As you may have appreciated either of the above plays would have given the JV, a “get out of jail free card”, on the expenditure of PEL 104 commitment wells, with these avenues gone, the Stormbird wild cat well has been brought back into play-which means it is a JV cash commitment.

My real thoughts were always, the VPE suggestion of the ODIN and ADVENT were questionable.

I am quite happy with giving the Stormbird wildcat well a go ,(over the Odin and Advent adventures)even though it may cause some funding stress ,we have a better chance of improving the well being of the Company by Stormbird success ,then the other two alternates.



Best wishes and kind regards

Eddie

mmmm gottalovevmt eddie was actually quite quick in his reply.. hats of to him