price risen by 20% thanks to the weakening aud, page-2

Parkmead are now drilling and we can expect results in about 4-6 weeks according to some followers of theirs on a UK talkboard.

Also I note the following quote from Ithaca regarding Athena:

"Further to the announcement made in August 2013, diagnostic testing on the Athena "P4" well has been completed and this has confirmed that the electrical submersible pumps installed in the well have failed. The net production impact of this has been successfully mitigated by the optimisation of the other wells on the field and the processing facilities, such that it represents a net production deferment to Ithaca of just over 300bopd. The options for reinstating full production from the well, via either a workover or sidetrack, are currently under evaluation."

If this is correct then the loss from Athena P4 well is down to less than 10% of the expected output which means that Lochard/Parkmead's share is about 1800 bopd.

This should reflect well on Parkmead but it doesn't appear that they are too communicative with the market so I doubt we will see any share price movement as a result.

Mackec