Ann: Positive Redmoor Study Results & Re-commencement of drilling, page-76

Agree. Sell Lochinvar but keep a small percentage as a free carry type deal so we will benefit from future production but not have to spend any more cash to get to that point.

As for a JV option, what NAE spent the funds received on for selling half would be none of the JV partners business really. And as long as we could later source funds to continue development, it wouldnt matter. The basis would imo be that our share price could actually rise if there was cash in the bank, as I beleive this is the only thing holding us back, then a raise at a higher share price down the track would not be a bad thing at all.