Ann: Sugarloaf Production Update , page-23

I agree about EKA, a definite TO target. Not sure about AUT, although it would give them aditiona acerage in a very managble situation etc, but the premium is built in as its partially developed, compared to mopping up lose acerage.

Im pretty sure AUT will go for lose acerage, put together a development plan, then take a farmin partner and charge them a premium that makes AUT acerage more profitable.

In terms of the 75c / 80c etc AUT and hilcrop are adding value at a monumental rate. Each day as we speak, irrespective of the sp, they are drilling, fraccing, planning etc and adding high NPV wells to the list of assets.

Even the 4-5 weeks AUt has hovered around 75c- 88c it has in that time drilled and fracced multiple successful well portions, adding an immense amount of value per share, while consolidating at the same time.

Given the development going on, its actually building in value just sitting there and hence at 78c today is 20 odd percent cheaper then it was at 78c 5 weeks ago. Get my drift. So its pull back has happened just by the fact its stagnated in price while its underlying assets have continued to rocket in percentage terms.