Invert, I wrote 2017, because I meant 2017. Could be first...

Invert, I wrote 2017, because I meant 2017. Could be first quarter 2018, but the JV is keen to progress the Xanadu oil. Under Canadian regulations I would think June/July 2017 would happen.

Government interference in business is destroying free enterprise.

My summary is a poor shallow reflection of what transpired in the 40 minute meeting.
Voting and business part took about 8 minutes, very efficient. The rest was talking about WBE's enterprises.

Also regarding the Canadian oil, Transerv probably exited their Canadian business at the right time as the downturn in Canadian oil and gas business would likely have bankrupted them, as it has large numbers of small and large players. They like to call it businesses in "financial duress", which for Whitebark is a great source of under valued assets.

Seriously I think they are winning here. When WBE first announced putting money into Canadian oil and gas I rolled my eyes and thought I should sell out. It was just after they received the $9,000,000 and I bought back in, as they had some money.
Alberta, Canada is a great place to be doing oil and gas production,
Australia is being killed by the political system. Look what happened to NWE, they had a rig on site and then had to derig because of the enquiry into Fracking, and that was a "free enterprise" Liberal state government. Ruined NWE financially.

Another point, the location of Xanadu 1 was chosen on very poor and inadequate data. A couple of hundred metres further away in the wrong direction and there might have been no oil discovery. I see this also as showing great promise for Xanadu.

Saltbus