annoguncement pending, page-13

hi tahi,

encouraging result to kick things off at Barnhart, I'm sure they'll get a lot of data from the drill to help further develop that acreage. There are steep decline rates in the Permian and in 12 months time the liklihood is it will only be producing @ ~ 200boepd but that will go on for 10-20 years, it's all about getting in front of the curve in this area, the more producing wells the better so that production can then fund further development & eventually profit...a long way to go but Molopo are stepping up a gear now. Management have been very transparent with their plans and full marks for getting on with it.

For me the acid test will be the next Baggett wells, Fiesta has been derisked to some extent but it's still wildcat driling by any measure, success there and it will be happy days ahead.

Still think there might be a bit of profit taking as we have had a good run up from .40 over the last month so going to hold back a little before i buy more, might be some profits taken until the next Baggett well comes through, hope I'm wrong as will be more than happy to see it go >.60

by the way Hendrous, enjoy reading all your posts here and at westside/lng, always quality stuff.

cheers