Ann: First Well in Capitola Oil Project Reaches Total Depth, page-8

I've been watching these guys for a long time. Turner Bayou was a horror show for them though from what i can see no actual fault of their own. That project was three wells 18 months apart at massive cost and extreme difficulties in completion. It is part of the play in O&G exploration. This time around they have gone for shallow multi stacked Permian. First well seems to have given them a nice surprise in that the Cline looks good on logs as well as the primary Canyon A sands. So Bishop well now cased and cemented and they are moving on to drill next two wells at the same time from two separate rigs. That leaves us with three wells ready for completion and flow testing in November. Three wells, not one. This I think could be an exciting time for this company. I'm looking around the Aust junior O&G sector players and outside of some exciting stuff happening in the Perth Basin I not all that stimulated with what I'm seeing. Three wells, three shots, low cost and med to low risk. Maybe I should buy some? sprout