in all fairness the goal posts have changed

"in all fairness the goal posts have changed"

previous work planes have gone out the window.

at one point we thought they may drill a well in 2013. PEL570..

recent changes have poured cold water over that.

in fact it's really significant changes. to talk share price figures at this point is fruitless.

at this point you might be looking at the 500km2 3D seismic survey in 2014..

2 wells in 2015.

1 well in 2016.

permit now expires in 5/8/2018..so this gives them breathing room should they need it.

they can complete a farmin agreement at any point from this time on.

""500km2 3D seismic survey in 2014"". i dont have a price at hand, but it will cost a heap. if they can complete a farmin agree between now and the end of 2013. the farmin company may cough up the money as part of the agreement.

as far as a farmin partner goes, i would think a minimum of 60%, which depends upon who's paying for what ie: 500km2 3D seismic survey, cost of one well.

in terms of what will they do if they're successful is as clear as mud (which is not a bad thing), in 2~3 years many things will change in the Cooper Basin. who knows LNG plant..????

currently they would probably need to build a 50+klm pipeline, some sort of processing plant in PEL570 depending where the succesful well is drilled.

this part is really up in the air.

there will obviously be captial raising, other type of funding ie: convertable note..????..

the above isn't taking away from the upside, it's merely pointing out some of facts. 570 is a great asset, but with this timeframe in place AQO need to look for other assets which they can explot quickly as they say "ROD" = RAPID OIL DEVELOPEMENT".

see screen print below.

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