lrl - looks positive, page-5

Rifici,

Agree with a lot of what you have said. I think timelines are too conservative though due to the prior drilling and the proximity of tie ins etc. Coupled with an effort in that region by the regional and central planning authorities to speed the access to cleaner energy.LRL has also set up ,with its local advisory Board,an ability to smooth what can be a slow process for foreign companies.none of that substitutes for drill programs,wet seasons etc but they do have an experienced crew and the prior drilling next door will provide the path

I am also not convinced that lrl is in it for the long haul and will monetise it at the right juncture either to a HK co or another local-not the jv partner due to obvious reasons.

At the end of the day there is little ev in the stock and if they do find the gas then the value curve will rise as they move further along the development phase.

The other aspect with LRL is they will not merely sit on this project but look elsewhere in the energy space. They have been in China for 7 yrs or so and have the admin in place to move on value projects.The broader gameplan will not change even with success here.MD is major shareholder and thus interests are very much aligned and along with the support of people like Middlemas (9.5m) the core of the top 20 are stickers.