Hi Insiderunner and holders, I recently contacted Neil for a...

Hi Insiderunner and holders,
I recently contacted Neil for a brief on what we can look forward to over the next six months. I was heartened by his response which covered-

1.The farmout of the Diona well. We can expect news in the next few weeks. Delays have been due to some regulatory matters at the other side but these should be cleared shortly.

2.The bigger Lorelle-3 well later in the year is the main focus-it is on trend with what Shell have been doing. Neil told me that Shell are bringing in a whole new American rig into the Taroom and EXR will see what optionality that provides it for its own rig selection.

3.Neil was well pleased with the Omega drilling success and mentioned that Shell were upping their investment to the stage that they may make a positive “political” statement on the importance of the Taroom Tough to both the East Coast gas shortages and also export opportunities ( but will wait until the election and its fallout is past ).

4. All the active Operators in the Taroom are coming up with new angles to this massive play-e.g.EXR with the Lorelle, Shell with reported very high condensate and now Omega with light oil. That puts more big eyes on it-even though such parties are slow to move and are very mindful of political cycles.

So we have lots to look forward to especially as EXR have such a significant contingent resource in the Taroom Trough, which is nearly twice that of Omega.

Best,
tui