Ann: Philippines Drilling - Jacob-1 Update , page-32

Emusan, the way I understand it Malalos has always been the main game, when drilled in the 60s it was found to be oil bearing - when re-entered recently by GGX it flowed gas and 20 barrels of oil in just over an hour, the directors believe with todays technology and the fact that the previous operators did not go deep enough to reach the sweet spot (resevoir) that this will be the start of making GGX a producer just how much is down there is the question although I am sure an estimate will be in a company announcment somewhere

scientist