Ann: 92 Feet of Gas Pay in Borba 1-7 Well, page-64

Hello board friends.

I have been here a number of times and this is the time when we either get paranoid or excited and usually between heart beats.

just the facts ma’am. We know we have discovered gas and more than we expected in the first zone. This is huge as the well has been considerably de-risked.

We are in a proven hydrocarbon basin that is gas prone. Offset wells have produced commercially for decades

We are chasing an elephant that is hiding in the deeper zones that has not been extensively explored in the basin (info from another poster)

We know that the sales pipeline is a stones throw away and has spare capacity to take our gas and the tie in costs would be minimal that can lead to the conclusion that even small flow rates would be commercial.

We know that the well is being drilled professionally and safely. Thank the lord

We know that GJ’s geological model has been confirmed by the drilling to date and we know he is displaying enthusiasm but in an under stated manner. No hype just confidence.

We know we have thousands of feet of gas bearing sands ahead of us and we have 13 bright spots to drill through.

Thats all we know now.... however from my experience that is more than expected and I am as happy as a puppy with two peckers

The Captain