Hello, you're watching ProAncite. I'm joined by Mosman, oil and gas CEO, Andy Carroll. Andy, good to speak with you today. You've been asked that you've completed the sale of your Stanley assets in the US. You take us through the rationale for the Stanley sale and the consideration. Yeah, hello, Stephen, and welcome everybody. The focus on helium means that it's appropriate for us to divest both management time and re-arcation of capital from the oil and gas assets into the helium side of the portfolio. So we have been working for Stanley asset. It is somewhat capital intensive. In particular, our man in the US, we want Howard McLachton, we want him to be focusing on helium, not on Stanley workovers. So we announced the sale a little while ago. There was some detailed sort out, which is very pleased that it's all now put to bed, and happy to have that asset sold. Just very quickly, the structure of it is such that the buyer is motivated to continue to do the work. Quite a lot of capital works have been on hold with workovers. So there's a fair amount of money to be spent. It's not going to be Mosman money. It's going to be the buyer investing in workovers and possibly an additional well. There's plenty of upside for them to do that in investment. And that is the area of expertise. This is what they do day in day out. So we're very happy to work with them on the deal structure is synergistic. So just as when we bought Nad's oil, we had initial payment and then two subsequent payments. We're very happy with that deal structure here on Stanley. So it's a little bit complicated, but we're very happy with the deal structure. And the bottom line is we can now fully concentrate on the helium portfolio, which is looking very positive, particularly in the USA. Andy, what was your confidence in the operator to manage production in order that you received deferred payments? So we know the people involved, which we've been talking to them for quite some time. One of the reasons for the delay is they've just acquired a property in New Mexico and they were busy getting that up and running. And so we know the people involved. We know they're very capable. And they've been doing a lot of site visits, a lot of discussion and a lot of agreement on the right way forward. And will you continue to generate cash flow from other projects? So it was a prime revenue generator on the oil and gas side. We're also as well as being able to focus on helium as a priority. We also have significant oil in the ground at Cinnabar. That's held by production. There's no rush. But we see significant value there, but it's not our priority at the moment compared to the extremely attractive opportunities that we're seeing in the helium sector. What are the opportunities you're seeing in helium and E? So we've mentioned in this RNS that we have contracted a very experienced helium consultant who's based in Colorado. And now McLaughlin is actually up with Tim Reinock this week and meeting vendors and parties to really accelerate the helium business development. So it's an area that hasn't had a lot of attention because helium was nationalized and was only recently been opened up to the private sector. So Tim is one of the guys that's been working helium for the longest. He's got a great range of contacts, a great range of understanding of the rocks and Howard fits in really well with him. Howard actually did his university, studied helium in Canada and Saskatchewan. His project was based up there and it's the same rocks coming down the east side of the Rockies. So they taught the same language and they're working really well together and working through the technical due diligence, the commercial legal due diligence and really very promising business development. And I hope your keep us updated on any progress there. Thank you very much for the update today. Great. Thank you. That's Mossman, oil and gas CEO Andy Carroll. [BLANK_AUDIO]
