Ann: Operations Update - Winx-1 Spud on Schedule, page-21

I think so Ex, certainly wouldn't instill much confidence in a deal being struck this quarter.

The guidance from the last quarterly had ~$21 mill in the bank with a forecast spend of ~$10 mill. The balance obviously won't see us drill anything by ourselves.

Dave like most, would want the share price settled at a higher benchmark and with a/some proven project(s) to provide underlying support for the next leg up.

I don't see any urgency for a soft raise and I'm sure Dave wouldn't raise off the back of any pump, should it come, leading into results from Winx.

I'd like to see the Farm-out settled before Winx results, proving that others are confident in what we have. This should set a higher marker from which success at Winx could leverage.

Just my thoughts while we wait and the drill bit turns.

Happy Saturday.