what time the announcement, page-26

re: yacheng what time the announcement A lot of discussion on this thread seems to be focusing solely on the primary target in Heron at approx 2200m and totally disregarding the secondary target at approx 3600m. This is surprising given the 2500m of “live” oil shows in Autruche-1 some 8km to the west from approx 2000m-4500m. In addition the potential for discovery at secondary target level I thought would have increased somewhat with Dana’s discovery in Dec 05 at Faucon-1 located in block 1 – south west of Heron but in the same coastal basin. Faucon encountered 46 feet of net hydrocarbon bearing Cretaceous sandstone in two intervals above a further 270 feet of potential sandstone reservoir. Samples suggest that Faucon-1 discovered a predominantly gas accumulation with gas in place volumes in the region of 200 billion cubic feet." This discovery occurred over Aptian/Albian sands - the current level of the secondary target in Heron.

Whilst Dana stated that “this is not commercial as a stand alone prospect, the discovery is very important, having proven a working petroleum system in this greatly under explored region of southern Mauritania. The gas encountered is believed to have been generated from a deeper source rock than that generating oil and gas further to the north and thermal modelling indicates that this new source is mature across most of this southern region of offshore Mauritania. The Cretaceous sands intersected at Faucon have also demonstrated that significant potential reservoir sand is available to facilitate much larger discoveries in this play fairway. The well results therefore provide enormous encouragement for the additional prospects already identified in Block 1, such as Petrel, and also for the future exploration of Dana’s neighbouring licence interests, namely Block 2 immediately to the north.”

Given the above, I would have thought that both target levels are equally prospective.

My opinion only and maybe I am just a little overly optimistic. Dangerous I know however, when you look at facts such as, live oil/gas shows nearby, hydrocarbon leakage at surface over structure, proven working petroleum system and Heron structure confirmed by 2D and 3D seismic one has a right to be. I guess time will tell.