now - that is how to write an ann, page-16

I expect TSV’s sp to go sideways (2.2 to 2.6) for some time now with a few nice dips for those who want to top up.

Looks like aminer’s claim could be right - I don’t expect drilling of the next well until 2010. Based on the latest announcement my “unqualified” time estimates are as follows:

1. Fraccing of zones 7 & 8 to commence early September (say by 15/9) - 1 week
2. Flow test including zones 5 & 6 – start mid to late September - up to 8 weeks. Therefore completed by mid to end of November. However we will get interim updates during testing so this should provide some support in the share price.
3. Cement squeeze – if this goes ahead I would assume that this would happen in December.

I wouldn’t think that they would start on the next drill until Warro 3 is proven commercial. Given that they may not announce further drilling until November/December.

Either way this latest announcement has confirmed that the water can be avoided/contained and zones 6 to 8 should be commercial with 3 to 5 still a chance.

If any other spec was to release this announcement you would expect a nice hike north! No not TSV. Fine by me – I’m going to continue buying.

PS - Still no mention of the cut back in royalty to 5%. Maybe in the quarterly? These guys really lack in sales skills...maybe they know they have the mouse trap!