Demerger, page-18

I had HNR shares when they spun off Errawarra resources in the same fashion. Years later I still have no idea how to even attempt offloading my Errawarra holding to anyone. Negative cash flows each year and I can't imagine anything will ever happen with it. I have slightly more confidence in GGE but to me 'book value' of 2.5c/share doesn't translate to anything tangible. However, if they keep admin costs down and divvy out the profs to shareholders as the wells deplete, then I think I would be happy to keep Louisiana oil until it's natural death as the wells deplete. I'd view it more like purchasing an annuity rather than a tradable holding. Errawarra on the other hand is just a block of dirt, and I don't see that ever changing.