junior oilers 18/19 january, page-7

Hi Jocam,

Interested to hear CVN say WB is going "reasonably well". Did you get the impression that was a non committal comment given no more news has been released to the market, a tongue in cheek understatement or an early warning on production rates??

If the latter, why the sudden interest in PTE last week -albeit only for one day, the price rose to 50c on exceptional volume, someone somewhere must have had something pretty positive to say. Not misinformation I hope.

With respect to the breakeven production rate discrepancy I imagine the lower number was referring purely to field operating costs while the latter might be taking all costs including admin into account? I think I pointed out before they need one more round of successful drilling before they start to show real positive returns. The key question we all want the answer to is "are flow rates being maintained". Action in PTE on Thursday suggested "yes" but no follow through on Friday has me back to square one.

pj