"Karoon remains committed to securing further farm-outs prior to commencing further exploration and appraisal drilling campaigns"
Billy,
Karoon has no option to remain committed to farm outs before drilling. If they don't get a farm out there will be no drilling. A Cr might get them 1 hole in Roo2, and nothing more. Hardly a road they would go down.
The data would be ok I suspect, but I think Bob may have to take second best when it comes to a deal.
weight of opinion, page-17
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