Ann: Company Update , page-5

Pixie

Its not all bad news imo ... what would be wrong with sensible commercial arrangements to have a partner with deep pockets proving up and developing one or two projects?

After all, QGC just flopped in front of BG didn't they ... albeit for a good price lol.

Given the size of GiP/contingent resources EPG has and the varied significant projects they have at hand, self funding is a garanteed impossibility ... hundreds of millions and possibly billions of expenditure to become a producer of note ... and time.

The trick is to advance projects (many projects) to the point of significant interest to appropriate partners I feel, whilst using company funds to advance upgrades to Gazonor and developing the CBM assets of say one decent project.

To be fair, Tony McClure has raised funds in a very effective way twice now to morph the company from a wispy oiler in the Kimberly area of Australia to a gas producer with prospects in Europe. It remains to be seen what rabbits he can pull out of the hat in this financial environment, but dont write him off imo.

Merry Xmas
Dex