corporate spotlight update, page-10

wabbit, as always, great to have your thoughts.

I suppose all I can respond with is that the MD has stated that a Farm-out is targeted before the years end, it was also stated that if a party required more time they would be given it. I don't believe this is open ended though.

I agree with you with regards that process not happening before Xmas, however, we do not know what we do not know.

Regarding the leases, when 88e/BEX first started buying leases on the North Slope besides Great Bear, it was a very lonely part of the world. If you check the current lease/activity data from the Alaskan DoG it is a much different picture.

There is now a high level of activity and the Western leases are in high demand, Oil Search, Repsol and ConocoPhillips are spending large on drilling/seismic.

By the Eastern leases, do you mean Yukon Gold? This is play D, which may have been promoted due to the 3D seismic detail, 80 mmbls discovery and with Point Thompson a stones throw away what was once considered stranded is now not so much.

Of course all of 88e/BEX leases were once considered to have no/very low value due to a lack of data, we now have acquired much data and should a Farm-out be secured, as stated by the company, we will find out what value has been generated.

Equally of course, your are right, and all we have is some tundra.

Hope you're well.

Cheers