Ann: OEL: Winx-1 Drilling Update, page-137

Tip top post Laz.

As we all know a disappointing but not unexpected outcome. And the answer to Winx-1 now leaves us with more unanswered questions, and less pathways to the answers than ever before.

• Is a reprocess of 15yo 3D seismic really worthwhile, or is it a clutch at straws?
• How much is this Winx outcome likely to impact the remaining prospectivity on our Western blocks?
• Without a GM, we only have around a billion shares available to CR, so what exactly might $12-15m get us?
• Will any potential Farmee know they are now in an increased position to pillage an agreement, and take advantage of that?
• If it is decided more funding is needed, and we go to the General Meeting process, will our hands be so tied that we are stuck with one of those depressing forward VWAP issue price arrangements, that many here would have seen recently lead to further wealth destruction for retail?

Lots to ponder.

Seems to me our options here mean we no longer just need to 'lift the skirt a bit', ... We now have no real choice other than to take the whole thing off.

So c'mon Dave, throw us a bone... and leave some meat on it, for the faithful.