Offer not attractive

QPN again mentioned in the QR that it was working on a JV for Ranau and talks about possible interested parties looking at things.

Well I believe that a certain Kiwi company had a nosey at what QPN has on offer but decided it did not suit. It did not think much of the information available. Probably the size of the possible prospects was not big enough to attract that company.
That probably means that QPN ought to get some up to date seismic testing done to provide a more convincing case to prospective partners.

So it is caught in this situation of having some shadowy prospects with not enough preciseness with its data or seismic info to make any possible partner be convinced about getting involved. And, of course, QPN does not have enough money to spend on getting some decent 3D seismic done and remain as a viable partner too. Unless , of course, it takes that risk, gets some really convincing material so that a JV partner can come in and earn a percentage by providing the funds for a well or two.

QPN needs to find a partner who has the expertise but perhaps the size of the structures that QPN has present too small a target for the risk involved for a company with the necessary expertise. Catch-22.

So they keep searching for a company and talking but nothing to show for it. Ho hum!