Ann: OBL PESA Deal Day Presentation Sunday 6 Apri, page-20

re: Ann: OBL PESA Deal Day Presentation Sunda... I've long been disheartened by the sale of Derby at a $7M value but there is a significant difference between say a year ago and today. Whilst I agree that the market has spoken three times now about that value, with Buru testing the Laurel it will soon no longer be subject to those previous valuations. In 3-4 months (assuming everything goes according to schedule) the value of Derby should change markedly one way or the other on the basis of that testing. I don't really think it's going to be worth $70M immediately on good results or anything (your x10) but it's unlikely to stay the same unless the tests are inconclusive or significantly delayed.