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Thanks for saving me the time writing the same reply.

Delayed by 35 days.

Here and back down to 6p. Will top up tomorrow and cash in the pre spud rise. Humpback should be finished soon, so bows the time to get in at a good price IMO

That was all a it odd.

Going on here, look at those sells, it's being dragged down in my opinion. News?

My 9.5p Average seems pretty good right now lol.

Sorry that was meant to say, i believe the board think it can't get any clearer. It seems people think its too good to be true.

They clarified it in the last RNS, it can't get any clearer.

I'm working on early October.

I believe you, I don't hold many here and won't be selling until i have double bagged.

I'm full on this, not willing to risk more on a wildcat. I'm not too concerned, if Rhea hits the good stuff the price now will be irrelevant

Back to pre farm out levels, madness

Exactly! You too.

Of how much is the key. Could prove to be a fair amount, doesn't sound as good as 20% of profits but I bet it's a better deal than the latter. There are a lot of costs before the oil is sold to market.

Ian Thompson "This royalty interest entitles the Company to 5 percent of gross revenues from all oil and gas produced over the life of the Licence, free and clear of all costs."

So what does today's annual report tell us? 1. Rhea will be drilled at zero cost and Arg will receive 5% gross revenue of all hydrocarbons, importantly it confirms this is before any costs. 2. We will get a 2.75 mil payment which will be used to pay historical costs. 3. We have 1.5 mil in cash. For me this is still Rhea or bust, they have definitely left this deal to the last hour. If Rhea is commercial, that 5% could be a good wedge of cash long term.

agreed, dictionary quote below. noun 1. Accounting. total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc.

Its a good deal, but only IF they strike oil. Risk and reward are both high.

As FI would say DYOR 50p IMHO etc etc

I must agree, BOR looking good for a punt. With all the recent discoveries Darwin provides a de risked prospect for a new major to farm into. In the near future Humpback will be spudded be FOGL et Al in the south basin and depending on results they may look at Sharnhorst which borders with Darwin. Not bad for modest short term gains or a long term hold for a farm in.