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Re: QPN - Quest Petroleum

Basically correct in what you state, except they don't actually have a schedule and have never announced one. All they announced was "the company's intention to commence".

They have not engaged drill rigs as stated today so still no schedule. It is falling behind "the company's intentions" though.

Not surprisingly the Indonesian government (via the SME PT Pertamina) has announce the building of a new plant in Sth Sumatra. They are doing so in expectation of what is to come and what has already been found recently.

All I really want to know is how QPN intends to pay for the planned drilling. My recent findings show they will need at least US$5-6m, of which they don't have. That said they aren't amateurs and would have known this in the planning stage before the backdoor T/O of QPN and engaged the high profile Indonesian national Thamrin for good reason. It is just a matter of how they will raise the required funds. Will it be a CR or some other possible sharing arrangement as is so often done with drilling contractors?

There is no doubting there is gas in abundance and to a lesser extent oil in this region, it just remains to be seen how QPN will fund the planned operations. Indonesian demand for gas is insatiable, so they have a ready market already with a recently increased base price.