Ann: Poseidon North-1 Progress Report No 4 , page-103

Evening ladies, gentlemen and Conchita Wurst...

this second announcement today was MUCH BETTER than the first... (but the first one was so lame, we shouldn't benchmark against it!)

from a volumetric perspective, this result should firm up a lot of extra gas in the greater structure, so it can't be bad news at all IMHO. However this announcement alone will not solve KAR's current funding problem, but hopefully it will help to negotiate a few extra shekels for the long overdue "imminent" farm-in for the Browse assets?

as for the Australian report - I laughed when I read it - they appear to think this is bad news... "The well is only six-and-a-half kilometres northeast of the Poseidon discovery" - WHAT??? The well is ONLY 6.5km away? What sort of drugs are they smoking? If PN-1 was 65m or 650m away, then yes perhaps it might be something to be sneezed at... but this well was 6.5km away for goodness sakes!! Muppets! Where did they want Karoon to drill? North East of Hawaii?

That said, the announcement was the usual piss-poor KAR announcement which, after reading, makes it almost impossible to find an enthusiastic interpretation! Good to see management are listening to shareholders concerns and doing everything they can to promote our company! Muppets!

And if the dull as batshit wording wasn't enough, they also threw in a dose of ambiguity again! Muppets! What exactly does this statement mean... "However pressure data is inconclusive and sample analysis remains outstanding..." - okay, pressure data is inconclusive, I get that, but is the sample analysis outstanding as in 'great'? Or outstanding as in 'results pending'? Or does it mean that they didn't get a sample at all? FFS, how hard is it to write a clear concise announcement? If this is the best that the millions in wages can get us, either we need to pay more to hire some employees who are semi-literate, or someone needs to get their arse kicked! What a joke - yet again!