Ann: Gibb Maitland No1 Sidetrack - Weekly Drillin, page-35

re: Ann: Gibb Maitland No1 Sidetrack - Weekly... JMH04

My response to your question; "What are the Catalysts to see the stock move north from here?"

Firstly I have big hopes for this well; Gibb Maitland-1. However we have to start drilling from 900m again. But we will have to wait a little bit more for it.

Here is the "Succesful Execution and Forwrd Drivers" from page 6 of NSE's presentation "BBY Energy Conference" on 28 Nov. 2012. You can see all activites togeher here. The most important new drivers look like the results of the Nicolay-1 Drilling and Merlinleigh project farmout anns.

The results of Nicolay-1 well is nearly due now.

It was said on anns. on 12 Nov. 2012;
"A significant core and data analysis program is now underway and is likely to take two to three months to complete.

It was also said on anns. on 25 Oct. 2012;
"It is anticipated that results from the core analysis will become available early in 2013"

What could be the result is the question. Now let's look at what was said;

Anns. on 25 Oct. 2012
"Initial reviews of the wireline logs that have been acquired confirm the presence of the Nita formation together with a thick section of interest incorporating the Goldwyer formation. From these initial reviews the Goldwyer section appears more shale bearing than the initial drilling and core observations suggested. This is also consistent with the elevated gas readings observed from the mud logs whilst drilling through both the Nita and Goldwyer formations."

Anns. on 12 Nov. 2012;
"The prospectivity of the Goldwyer Project has been underpinned by the drilling of the Nicolay #1 well which has confirmed the presence of a thick section of hydrocarbon bearing shale within the Goldwyer formation on the Western margin of the Kidson sub-Basin.

Merlinleigh Project

Quarterly Activites and Cashflow Report on 31 oct. 2012;
"During the quarter potential partnering discussions with a varied group of interested parties continued alongside
additional desktop technical work.
...
It is anticipated that current work and discussions with third parties will continue over the coming months with a view to defining 2013 exploration plans during Q1 next year."