Ann: Drilling of Nyuni 2 Commences , page-4

On a side note, I see Ken didn?t miss a trick in the announcement of the spudding of Nyuni 2, throwing in this statement about the Zeta deal at the end:

?Independent expert reports relating to the transaction are currently being prepared and further announcements and timetable for presenting to shareholders and completing the transaction will be made in the near future?.


Fully agree with your post Roznov, in addition to the above comments, given that they saw fit to use this announcement to update us on the progress of the Zeta deal, why didn't they also update us on the Lidsey #2z well which according to the last capital raising was expected to spud over 6 months ago?

Also, on the "independence" of the expert reports, I'm fully expecting to see Pursuit Capital listed as the "independent expert". The same people that brokered this deal and was whose name appeared on the last capital raising.

Oh well, at least this announcement gives us a time frame for when the Zeta deal will be put to shareholders. Expect a vote before Nyuni #2 is finished drilling, ie before 19/8/11 - the earliest time frame given in the announcement.