That's because the FMG deal was a ripper. The SP SHOULD rise on...

That's because the FMG deal was a ripper. The SP SHOULD rise on a good farm out whether the block has approval or not because it's a reflection of having cold hard cash, less operation risk, market validation and so on.

It doubt it will move anywhere near that because all approval gets OBL is a court case with BRU and no guaranteed drills in Derby (like there are now). Maybe if they're lucky after another six months and however much cash burn they'll only then be able to start the farm out process so a year down the track they might have a replacement for BRU and get another "FMG deal spike" then.

I guess what I'm saying is, don't confuse the price action of a farm out to the price action of being back at square one looking for a farm out. There has also been more dilution since then, not that people will probably care.