getting closer, page-67

Dear TShirt,

We have seen the 4 exploration wells noted next to Block 105 in 2014 in diagrams from KrisEnergy regarding future indicative development. Only KrisEnergy has given any indication about this potential drilling. As such how much store do you place in the following from KrisEnergy's Prospectus dated 12 July 2013 at p162? Do you think KC's visit may have been related at least in part to this?

"The joint-venture partners intend to drill one exploration well in the second half of 2013. The operator has secured the Ensco 107 jack-up rig to drill the Cua Lo prospect with drilling operations scheduled to commence in the second half of 2013, subject to the timing of the rig release by the previous operator. A further 500 sq. km 3D seismic acquisition program is planned for the first quarter of 2014, with four additional exploration/appraisal wells anticipated in the second half of 2014."

For anyone interested in the fiscal terms of Tanjung Aru and Block's 105 & 120, pp168 & 170 respectively set it out.

http://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=31&ved=0CDgQFjAAOB4&url=http%3A%2F%2Fmasnet.mas.gov.sg%2Fopera%2Fsdrprosp.nsf%2F936bad13609791c948256b3e001ed49f%2F4C49FDE92169C04648257BA600320BEE%2F%24File%2FKrisEnergy%2520Ltd%2520-%2520Prospectus%2520(main%2520body).pdf&ei=ILWGUsC3Goq6iAfn34CoBA&usg=AFQjCNFftMGnoFTz4tfoYnomllc5WTmWPw&bvm=bv.56643336,d.aGc&cad=rja