summary in sgy ann. from 1 oct. re paloma, page-23

The way it is, both wells that ENI r drilling r practically wildcatters, which could swing both ways. One might argue we have the BHP well as a guide in B-120 & B-105 has the DongFang field just a few clicks to the east humming along smoothly.

NEN have done all they could, pre-drill, by selecting the target location etc frm the seismics, so that's the DD side of the sector. Final results will dictate which way the SP will move hopefully in Nov.

So at the end of the day, final scenario could b one of the following:

- both wells r successful,
- both r dusters,
- either of the 2 wells comes in good with commercial flwrates & warrants another well.

Remember 1 well does not warrant commercial sense esp. offshore, so two's better.

So, based on that outcome the mkt/SP will react accordingly and analysts will come up with a relevant report.

That's the nature of exploration sector. A good find can take the SP mile high or easily do a u-turn.

I hope that Blk-105 delivers firstup & that will open up the nxt question where do we drill the nxt hole, how much cash do we need etc etc.

It's basically a cycle that's repeated routinely on the ASX, with any junior exploration company.