G'day Gasman, glad to see you're back on the action trail.I've...

G'day Gasman, glad to see you're back on the action trail.

I've had a considered look at your assessment that is based around a significant degree of assumption. I find your assessment believable and reassuring. Clearly it will be a management performance issue from hereon in.
However, it's pretty simple to understand and feel comforatable about the major play EXE could/will become. To me the major potential is the Oil and Gas in the Shales. That widely spaced drilling (50 or so kms) is not what you'd hang your hat on, but by any assumption is significantly better than some shale followed by none in various drilling. At best the "downers" could say EXE must have drilled in the peak patches...could be true, but unlikely.

Details from Corelab in the USA about shales at Euston 1, Katherine 1 and confirmation to Bessies 1(19 Dec report) are awaited with some eagerness. Must be soon...

For us "blue sky" punters, our biggest risk is that CNOOC might move to take us out early when more drilling provides positive results demonstrating clarity to the massive potential.

I'm of a mind to add to my holding...JV $50 m with CNOOC is a pretty good comfort deal!

Question...did CNOOC retain the option to exercise the private placement @ 31 cents they declined to proceed with last year? From my recollection there was a significant equity outcome

Ex