qtr ann oyt, page-7

Just spoke to the analyst at Morgan Stanley. From a market perspective the announcement looks exciting and there are plenty of game changes in play. The guys I deal with haven’t followed the stock as closely as all us budding HC enthusiast but overall it is a clever note to the market.

Some of their comments were:

Possible ASX200 entry will lead to significant buying if this occurs with has been flagged in the Wilsons analytical Reporting.

Ratification of the gulf deal.

Higher levels of production and more Wells.

The boys said that the US market will be closed tonight due to the hurricane so they are expecting a very light day on the AUD exchange tomorrow as a result.

IMO I’ll be surprised if the SP drops on this news as MAD management were clever and waited to the end of the month so they can signal current production over 700 BOPD and with the oil in the ground, the size of the invested players in the game it’s just a matter of time. (These investors are not stupid and won't waste their time if they were not surpremely confident of the outcome)

Having said that I’ll be balanced (but not negative) and say it could go up or down until some of the above mentioned plans work themselves out. I’ll remain optimistic.

Off home. Night all.