Mallorca, what I would do is JV Gdansk W and try to keep as much as possible, even up to 49 percent, depending on the interest if there is more than one interested party then Oisin has a strong hand to play. I would then look to do some work to the south on the Realm lands where the area of interest is much thicker as it has folded on top of itself. And hopefully do a quick JV there with a major who will come to the table with a deal much like Gdansk W. I WOULD NOT include anything more than Gdansk W at this time as a major will concentrate on those acres and not create value with the Realm lands anytime soon which long term is not what we as SLE shareholders want.
Could even think about doing a JV on half the prospect with a major, and sitting on the other half for a couple of years. By that time our cash flow would have been established and we'd have the benefits and experience of working on the JVd half to go it alone on our 100% owned portion. . . There are n number of possibilities and I'm sure OF with his deal making skills will come up with the most suitable. Let's just hope that 3Legs have done their bit so that this discussion does become relevant. We should know pretty soon.
SJ..spot on..the cash position will be maintained even more so with a jv as we are talking the lotto to sle..everything is moving on very well.from the presentation program to the OF talk..things are about to be turned up!!..cheers links
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