selling interest in ac/p33 & ac/p35, page-7

Hi EL,

Yes definitely watching, interesting which company acquires it. Judging by hc, not many watching it which is good :), hopefully I will catch the announcement. The amount of attention albers group has attracted lately re MOG haha, I suspect alot of posts coming soon to STU and the new farm in company LOL.

http://www.stuartpetroleum.com.au/Content.aspx?p=126

Farmins
Stuart has entered a Farmin Agreement with the four Albers Group unlisted companies to become Operator and to earn a 50% interest in the Permit.

Farmin terms are to fund the Oliver 2 appraisal/development well and fund an engineering study prior to development with a combined cost of $ 60 million. If development proceeds, Stuart will then fund the first $ 25 million of the development program. The first phase is expected to be completed by late 2010.

Several companies have expressed an interest in working with Stuart to appraise and develop the Oliver resource. Stuart have engaged Greshams Advisory Partners Limited to facilitate these discussions.