mackdunk picked on the wrong person... hes now in deep...
Quote:
Hey Shrude Crude,
can you tell us anything in WA-389-P
ELYOB,
theres not a heap of information floating around...
Ive seen nothing on prospects in that permit...
CUE have 5 permits in Carnarvon Basin,
Two in the North
WA 409-P
and WA 389-P
and 3 tied in with MEO WA-359-P,WA-360-P,WA-361-P
yes... 5 permits...
The 3d Seismic survery by OEX last year only captured a small part of the north western boarder on our permit WA 389-9 (350-450 square KM's)...
we own 100% of it...
and 50% of WA-409-P...
http://media.wotnews.com.au/asxann/00838713.pdf
There is very minimal information around about 409, and 389 in the North... I highly believe that CUE are going to farmout stakes in these permits for a free carried well, and work program (similar to 359,360,361)...
as CUE will lose them if they do not apply minimum work commitment...
As for their prospective nature...
On trend with Ratkin and contains similar exploration plays to blocks 359,360,361...
at the moment its all for free...
Minimum work commitment on 409 is a 2d seismic survery for a cost of 3 million dollars...
and secondary work commitment to drop one well at a cost of 25million dollars... this permit was awarded in May 2008, and I believe no work commitments have taken place to date......
CUE will farm them out...
looks attractive for a farmin partner with all the recent hype in the region.....
We will get 15% of Artemis free carried for no cost...
...
Did anyone read the OEX announcement about it farming down its 25% stake to 10% for a free carry for two wells later this year, and reimbursment of costs to date...
200 million barrels of targets...
good hype value...
lots to be excited about...
far more excitment in real assets, a bird in the hand is better than two in the bush...
exploration is just that...hopefully a bit of fun in this region over the next few years...
Artemis looking on for early next year...
offers requested by 31st August... and hoping to have a deal by 30th September...
for me im just going to keep quiet about all of this, its going to unfold over time, im more focused on what we have, those real assets than buying into hype speculation and manipulation......
I will let those on HC pump it up, hopefully we go for a run on two birds in the bush...
a whole lot of supporting activities coming up...
yeah harrgghhh...
Mackdunk,
I sense that your backing off after that post...
come back mate...
round 2...
this is just heating up........
http://www.sjgs.com/spot.gif
..^sc-strut on that...