nuenco management statement, page-21

Bignote,

Thanks for your recommendations.

We have an update on SELH that should be released next week.

The Acosta well is a re-entry of a well drilled in 2005 by Noble. They unfortunately lost circulation and P&A'd the well. We were able to re-enter the well at 25% of the cost of drilling a new well. Unfortunately we are only able to target the camerina and miogyp intervals (and not the larger cib haz). The cib haz interval will be targeted in the Jumonville #2 well due to spud mid Dec.

Ideally this well will provide us with two things:
1. be a productive well in both camerina and miogyp (we would produce from the miogyp first)
2. assist in delination of the field and calculation of a reserve.

I will attempt to make future releases more user friendly.

Regards

Mark