well now we know what the cost will be not bad, page-12

Davo22

I disagree.

a) The Transcor debt is gone ... with minimal dilution

b) Transcor subscribe to a small issue at 50c

c) EPG have farm in rights to 70% of revenue associated with increased CMM production at Gazonor ... I understand there are numerous sealed old wells/shafts in the region that can easily be tapped for increased CMM production ... a significant historical restiction being the amount of gas that can be piped to existing pipelines is recently not so much of an issue ... I expect this will surprise to the upside and effectively return a modest cash flow to EPG sooner than later

d) EPG have farm in rights to 70% of revenue associated with CBM exploration tied to the original Gazonor permits

e) I am pretty sure EPG retain 100% ownership of new CBM permits in the Gazonor region negotiated with the French Govt post the original Gazonor purchase (will check this tonight or tomorrow)

I also suspect in the 70% farm in arrangements that Transcor will be contributing 30% of costs (will check this tonight or tomorrow).

All in all a damn fine deal imo.

Dex