takeover, page-13

Parkave,

What were your thoughts on the Wandoo acquisition?

To me it gave exactly what you were asking for.
1. increased reserves
2. increased cashflow(and more so when production at Cliffhead improved)
3. exploration and appraisal acreage

I would have also thought the exploration results in the Perth Basin since the Wandoo deal have been promising.
Frankland appears to be a chance as producer and there seems to be oil out there as Dunsborough 1 showed.

Also it appears the 12.5% in Bass Basin could be more than handy with a number of appraisal wells coming up in the next year. They have also farmed(40%) into adjacent acreage with Origin which should be drilled in the next year.

I guess the Anzon deal is what you were asking for with
increased production and cashflow. The only problem with that was the dilution to existing holders and therefore not as much leverage to Canning Basin success.

I would be interested to hear what you or any others think as these are only my thoughts and not necessarily correct.

Good luck & please DYOR