couldn't help myself, page-12

"They have dug up dirt and dust only in their last 3 1/2 wells , why should any future wells be any different?"


1st well - Laurel
Didn't go deep enough. The formation is there and it is proven to hold plenty of hydrocarbons.

Still alive.

2nd well - Gas found, dry and not enough. It was always expected that this section would be the least prospective but they wanted to get info on the full breadth of the permits, which is why they've gone from west to east.

3rd well - Drill problems. I still think they have issues in their technical team. It does appear from the available information that they are indeed getting closer to the wet gas and will confirm upon completion.

4th well - the 3rd in the initial JV stage is highly likely to have wet gas and potentially oil.



The completion of Gibb Maitland is very important and could create some good momentum leading into the final well in the first stage of this JV, which is anticipated to be very rich in carbohydrons.