doom and boom, page-3

Smart you are as usual ramping down but without the real facts.

If Texas is worth $100m then that pays for trinidad with interest...Trinidad is 1000 bpd up from 650bpd and should be producing 2000bpd maybe 2500bpd by year's end...up 3 times their buy in production rate. That makes it worth $200 million and rising. The geezers selling the company were old blokes and fueding (nice story anyway) so one can surmise...something you do well, that they were just "cashing in" as their time on the planet was short and heck...$45 million each is damn OK.

I agree georgia looks like a crock of dung...time will tell but discount it.

Puntland is another story...a 10" hole into 4000 metres of sand confirms the word punt...that is what it is but sooner or later (if the cash holds to pay the drilling) then oil will flow. My problem here is that to me it seems thay have got nothing of substance in hole 1 but decided to drill hole 2 without confirming either way the hole 1 results...for whatever(obvious)reason. Now when they dig hole 2, if that looks good, what betting that they test that hole before they do the first? That way the find has lifted the barge...if they get a shitty result from 2 then they will take their time testing hole 1 cause the news will be awful...2 holes and as as much use to us as a sore arse is to a boundary rider. there is my concern...the gig looks good but behind the puntalnd scene I reckon there is zip in the first hole as they would be so far on top of announcing it to the World in other terms the SP would be triple. So they wait and see what the second well brings...if it is looking good they test it first if not then they dither around waiting for the testing gear while they try to figure the next move...Hole 2 is the big one...hole 1 IMHO isn't worth a camel with a bad cough.

Columbia gives range somewhere else to go and if trinidad is any guide it could be a brilliant move but as the man said...time is the friend here...trinidad is increasing production...sell Texas on the way up and hunker down for higher production from Trinidad and then get down and dirty in Columbia...Puntland is the punt...it has a smell and there will be some nervous drillers waiting for the 2nd hole results...go range...get that oil...change our fortunes and confirm that the wait has been worth it all.