looking good

Looking good! Out of action for a week or so - have been in Perth - lovely and sunny - just like our home world of Ferengi.

Ships arriving soon. Drilling about to start. Is Chinguetti, TIOF, Banda and Pelican all there is? Did the JV drill all the good holes right at the start - and everything afterwards will be dry? What are the odds of that? Well - a share price of $2.00 for that option is reasonable at current oil prices.

The probability is that Mauritania is a major oil province, and what has been discovered is indicative of what remains to be discovered. Assume that TIOF is firmed up a little, and that 2 of the 6 other prospects show oil - then we can see a doubling of reserves.

Then there is Uganda and Guyane. Wow!

The medium term share price move is UP UP UP. If Dorade is first - maybe the buying opportunity of a short term down move - to $1.85 or even $1.65. We can only hope. Some idiot suggested $1.38 - which planet did this turkey come from? If Dorade is first and good - WOW - but buy at $2.20.

I wanted to tell a joke here about a Klingon stripper, Mark Latham and a Romulan taxi driver, but a female Ferengi close to me said that it would be misunderstood in different ways by all sides of politics in Australia. You have to understand Ferengi politics and the Romulan equivalent of Myer Briggs analysis to get the joke - so maybe she is right.

Cheers TGN