sgy, page-9

BPAA,

"It will take some really good announcements and some big trading days to restore any confidence"

No doubt the above is true but thats exactly what shareholders and expecting / hoping for isn't it. After tooling around with the lower two sections of PD#2 they are now testing the money zone. Good results from this sandstone, ie similar to those found in the same zone in PD#1, will give the market plenty to get excited about and a production plan will almost certainly follow IMO.

Additionally the first 3D data is now being analysed from Block 120 in Vietnam. Further interpretations are due shortly and the data for Block 105 will be processed shortly as well. Fully interpretation of the analytical results may prove to be very exciting as the preliminary 120 block results have already suggested.

I would expect a rig for 105 to be announced just after xmas and a rig for 120 slightly thereafter. By then the drill dates and timeline will no longer be seen as "some future date" but rather as "current calendar year".

We can't assume that any given prospect will be successful but the pipeline for the coming year is massive. Success at Paloma would provide an impressive lead with multiple holes off the Vietman coast being a massive kicker.

Management could do more to sell it but they aren't going to. They are going to get the data they need from PD#2, Block 105, Block 120 etc and let the market decide what its worth. Could be some very interesting announcements in coming weeks / months.