6500 sq km on trend and next to Dorado., page-18

Have been reviewing the TDO block wrt the information being progressively released on the Quadrant / Santos transaction. A couple of things are becoming clear. Firstly, STO have paid alot more for Dorado and surrounding leases than would appear at first glance. Adding to offsets for exploration costs in CY2018, prepaid gas to Alcoa, trailing payments and cashflow adjustments, there has also been a substantial abandonment credit. Secondly, the region to the East of the CVN leases is shaping up as having substantial sized high COS targets that are already being described as oil fairways. The resultant valuation that can be ascribed to TDO's 100% owned lease is clearly many times the current MV of the company and I don't doubt it will be attracting serious interest from a wide variety of oil industry players. Add in the statements from STO MD about fast track appraisal and development of Dorado and other sites and any discussion that these are out of the way leases will be well and truely dismissed. GLTH and think carefully before you sell, its may be something you regret quite quickly IMO. DYOR.