Ann: Quarterly Activities and Cash Flow Report , page-4

re: Ann: Quarterly Activities and Cash Flow R... ANZ
In short, dunno exactly
Albers has a lot of balls in the air atm, (exposure to MEO/Artemis deal, RI/Placement for BH/C).
Assuming we are not seeing the beginning of a correction in the overall markets, then ~25cps would seem OK.
That would imply an av entry of 21.5cps if the RI remains at 18cps.

As far as I can tell from MOG's Sept quarterly and other sources, the Songa Venus is in fact booked, so the jv must be confident of raising the drilling funds.

Albers reports to the US SEC via his company "Australian Oil and Gas Corp"
His 11-08-2009 filing states that the Songa Venus is booked for Braveheart early 2010 and another slot is under negotiation for Cornea.
Going by MOG's quarterly, its seems this has advanced to booked slots for Braveheart "and" Cornea commencing late 2009.

Link to Albers AOGC 11-08-2009 SEC filing
http://www.sec.gov/Archives/edgar/data/1080634/000107997309000750/aogc_10q-063009.txt

Page 17
""The participants in the Joint Venture have contracted to engage the services of Australian Drilling Associates Pty Ltd to provide project management services to support the conduct of drilling operations and has gained access to one drilling slot in a group sponsored multi-well program utilising the semi-submersible drilling rig, the Songa Venus. The drilling slot is to be used for the drilling
of the Braveheart 1 well, anticipated in early 2010.""