Ann: Progress Report No 11 , page-18

Hi all,

I dont think this is just a matter of semantics but from the e-mail I received from the Co Secretary on Saturday he noted that this was a'appraisal'well which is unlike a discovery well such as P1.

My belief is that an appraisal well requires definitive measurements of a number of elements including cored sections etc. Perhaps Ya or someone with Technical/drilling knowledge could give us a drilling dictionary difference if in fact there is one.

From the email this was one of the reasons there was no interpretive data or nebulous positivity about any possible hydro carbons being found.

I'm still so excited about this well. Its just a waiting game until the company can come back to market with an exact rather than a guesstimate of what they have drilled into. This obviously takes a certain amount of time.

The more time that that passes the better. If it was a "dud" these guys would come out very quickly like Kontiki an say "sorry it doesn't look viable."

This is about having bankable gas measurements. My bet is its big.

Stay patient.

Cheers
P.