Ann: ORIGIN ENERGY LIMITED PEL 514 GAS FARM-OUT , page-23

re: Ann: ORIGIN ENERGY LIMITED PEL 514 GAS FA... Guys

I think I couldn't explain properly. Or some guys still can't see the picture.

Of course, the farmout agreement between SXY and PGS for the oil was not affected. That is for oil in the shallows. Put that aside.

But PGS is also participating in the new JV between Senex and Origin Energy, and have to pay $8m for Stage-1 and another $8 for Stage-2 (if it goes ahead) of the new JV's work program as the 20% of $40m expense for each stage.

What I am saying is above; PGS looks to me that it won't be able to pay these $8m for the stages.

Isn't that clear enough!


famikea

I don't believe that the management would tell me anything other than what they said on their anns.

Announcement is clear for me. They will have to pay $8m for each stage. My question is how they will going to pay that money. They wouldn't tell me that.

Anyway, I will mind my own business with other stocks. There is not much happening here.