Ann: ORIGIN ENERGY LIMITED PEL 514 GAS FARM-OUT , page-30

re: Ann: ORIGIN ENERGY LIMITED PEL 514 GAS FA... Here's a rough overlay of PEL 514, using the map provided in Senex 450+ targets announcement on 10/12/13

Great to see that Cordillo & Dundinnia 3D's showing up some decent Oil targets in the north...(hope it's uploaded OK, I can't seem to see it in the preview)

Ok, we need to wait until ORG (gas) participation funding detail has been provided, but I still believe it's pretty obvious. The numbers indicate that on an equivalent to SXY basis, PGS will need to farm down 10% of deeps (ie Gas) in PEL 514 for it's $16M share. I'm sure well know soon enough, either way, can't see PGS not benefiting in ending up with 20% (Oil) with $45M free-carried & say 10% (Gas) with up to $80M free-carried.

All I can say is I hope the sellers keep coughing up...GLTA