Sandybeachs, i think your missing the point of WHY they applied...

Sandybeachs, i think your missing the point of WHY they applied for and were granted a change in the work programe.

For starters the changes made would have been at the request of a potential farmin partner, secondly the changes make were in the best interest of shareholders as they are significant changes that will add value to the leases over time.

The develpoment of the leases is obviously going to cost money and the company knows that which i why they are going for the best deal possible. AQO has an extreamly healthy balance sheet with $9 million in the bank and very low cash burn.

You only have to look as far as what Chevron paid for a 60% interest in one of BPT's leases ($300 million) virtually right next door to AQO's lease to see just how much value the big boys are putting on leases in the Cooper Basin.

Drilling of the first well may be a while away but releasing value to its shareholders through a farmin deal is just around the corner.

Im guessing any where from 40-60 cents is where we will be trading once a deal is anoucced and thats being conservative.

Theres a real possibility that AQO may get taken over as well so that wouldnt surprise me at all.