Ann: Drilling update at Alameda-1 - Significant Oil Interval, page-101

Hi All,

Obviously an excellent result so far for the N Objective. I've posted what IMO are the key points below with a couple of follow up Slides for explanation.

On the Slides I'm referring to the N Structure as being the SW & NW Blocks (as was originally defined by MAY). I will post on what I'm thinking here in the near future.

Also, I make the point (two yellow stars!!) about the significance of the comment "significant oil shows present throughout on the shale shakers" in reference to what was observed in the Marti-5 well. IMO the Marti-5 drilling of this section (Lower sheet) very likely severely compromised the quality & quantity of oil shows (and as well the small amount of testing they did). Once again, I will post on what I'm thinking here in the near future.

Cheers
VOGC