Jim, with a considerable time for options expiry,you are better off keeping them IMO. Production to increase with work overs and a better understanding of the oil traps, over recent times, should greatly increase production at Seram. Although only 2.5% of it is LIO, it is 2.5% of a huge amount of oil and gas, as they improve their understanding of the fields. Ref to Quarterly activities report 30th June 2009, Work over of Oseil 2. Then huge potential in PNG via indirect ownership of PP Licenses via PPL. Although indirectly, LIO own half the acres per share that NGE own and look at the potential their. The only disappointing thing there is, how cheaply SASOL acquired 51% of the leases. PPL did need the capital desperately at the time. Regards
LIO Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
