Also, I found this on the ADE thread in the recent Quarterly Activities Report and Appendix 5B:
"PEL 105 : Cooper Basin, South Australia : ADE 50% Interest The Company announced that it had reached agreement with the tenement holder of PEL 105 (Austin Exploration Ltd ASX code: AKK) for the accelerated acquisition of a 50% undivided participating interest in the block. The Company continues to plan for the drilling of Pirie-1 as operator. There has been a delay in the timing for the commencement of the well due to a drilling rig supply problem in the Cooper Basin. The Company is now aiming to spud the well prior to the end of second quarter 2010. Hydrocarbon shows over the Tirrawarra Sandstone section down to approximate structural spill suggest a P10 potential of over 20 million barrels of oil in place."
End of second quarter...they don't sound to confident.
AKK Price at posting:
4.6¢ Sentiment: None Disclosure: Held
