buru leverage, page-15

OilWatcher,

Your question:

"When? Come on Eric.. the dry drilling season is slipping by with NO ACTIVITY!!!! What are you and ARC doing!?"

Answer:

What are they doing ........ just waiting to collect 33,000,000 options before they even strike a blow in the name of Buru. Any remuneration to date should have been a matter between ARC and Mng't. and not Buru and Mng’t.

As far as the dry drilling season slipping away, well they did that last year. Wasted time in the Perth Basin drilling a couple of wells that they didn't get around to testing until much later, which would indicate that there was really no urgency to drill those wells in preference to heading to the Canning on time.

Funny how virtually no one thinks that it is appalling.

MI