Hey@ParlayI'll try and answer this one to the best of my...

Hey@Parlay

I'll try and answer this one to the best of my knowledge.

First - I can't comment on the $ Dollar Value of the said bond. I have seen comments with $ million - but there is no official ROG announcement that quotes any dollar figure (or I've missed it in my pretty detailed research) If you - or anyone reading these forums - can link me/us to the source of information that shows the bond value that'll be great!

HISTORY - Scroll down to "Fast Forward" section if you want to know the current state.
First we have to back to the Prospectus (announced 31/07/2018):
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02004235

Section 5.1 (A):

At the bottom (last paragraph) we can see that ROG anticipated responsibility for providing the monetary bonds for mining rights

For Completeness, Section 5.1 (F) spelled out the Environmental Risks associated with the project (hence the said bond above):





FAST FORWARD to the Announcement - 08/03/2019

APPLICATION FOR MINISTERIAL CONSENT TO ACQUIRE INNAMINCKA DOME PROJECTCAPITAL RAISING
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02084501

So you got to read this part carefully



From that announcement, we learn that Beach are funding the Bond ("Financial Security") - which was the pre-requisite for this announcement (21/03/2019 - Ministerial Consent Approval / Transfer of Licenses). If that Bond hadn't been paid [by Beach], then the licenses wouldn't have been transferred.

But it was conditional that Beach will be paid their $ [Insert Bond Value] back from ROG within 6 months. If ROG fail to pay back the Bond, then ROG loose the licenses AND... Andrew Knox forfeit's the $800,000 payment he put into escrow (out of his own pocket I must add).

This tells me is that the Bond (Paid by Beach) is greater than $800,000 - by how much, I can't say.

It also shows that ROG need to get things moving VERY QUICKLY - they need to start making $$$ to repay that bond, save Andrew his hard-earned and gives me huge confidence that something massive will happen very soon with ROG - Purely IMO, most likely a JV with a BIG NAME in the area to rapidly facilitate production (start earning $$$) and in turn rapidly facilitate the SP to increase.

Hence I'm pretty bullish with ROG.

The thing that most people tend to overlook with ROG is not the Oil, but the GAS - that is the big prize here.
24km to hook the Yarrow Gas Field to Santos Pipeline at Pondrinie. "Low Hanging Fruit" I've been told.

Hope this helps!
Happy Investing...
Cheers
MSN