Ann: Acquisition of Interest in PEL 182, S.A. Coo, page-9

re: Ann: VPE: Acquisition of Interest in PEL ... Looks to me as if that link actually says they ARE going to spin them off Good oil.

Why do you say they aren't when providing that link?


ASX Release
21st January 2010
Gold assets spin-off
AuDAX Resources Ltd is pleased to announce its plan to spin-off its portfolio of about
20 gold and base metal assets into a new ASX listed company.
The assets include possible gold development projects such as Millrose and gold and base
metal exploration properties such as Marymia and Mt Webb together with various other
joint ventures and royalties as well as new tenements.
AuDAX managing director Wolfgang Zimmer said With the gold price at record highs
the time has come for the AuDAX to monetize its minerals portfolio. This new structure
will enable all existing AuDAX shareholders to realize full value for these assets and
provide a clear distinction between them and the key oil and gas projects which are the
companys main focus.
Full details of the anticipated transaction and corporate structure will be provided to the
market in the near future.
For further details please contact:
Wolfgang Zimmer Gary Roper
Managing Director Chairman
+43 (0) 676 358 1214 +61(08) 9226 2822
www.audax.com.au