announcement out, page-3

I'm sure that agent won't mind.

Reference the discussion on the POO.

May I just post a comment made in today's release by AUT, which has been an EFS buyer over the last couple of months?

"Aurora’s modeling in previous disclosed presentations has been based on an effective US$85 oil price and current sales, which are priced at a premium to WTI, are at or above that number and generate very attractive netbacks."

In simpler words, AUT seems to be saying that it doesn't give a stuff about the current weakness in the POO and that is because it validated its purchases at a pricing of oil at around the current level anyway.

Furthermore, Marathon, the operator of AUT's AMIs, only last week announced that it had farmed into an African offshore drilling JV - that will be far more expensive, risky and will have a far longer payback period than the EFS, which it is drilling at a demonic rate. So, MRO can't be too rattled by the current POO weakness either.

There's no reason to suppose that the parties with whom TXN is having discussions with will be taking a different view.

TXN is not negotiating with traders with short-term pricing horizons and shorter-term attention spans.