today's action, page-4

Definately the result of each well for MHL is more germain than one well for a company who drills numerous wells a year.

To balance this, the first producting field is more important than the same reserves addition to an established producer.

Airacobra is not finished - jury is still out
Fury was cased and looks like a likely first field money maker

Future wells and hopefully production/reserves growth may be leveraged on the Fury success.

It looks to me like MHL has seperated itself from the non producing micros by finding some commercial oil at Fury although some commercial production will tell the story on how profitable this is.

In the meantime further drilling in the Cooper Basin could provide a modest growth curve.

It will be interesting to see if MHL still pursue overseas ventures or focus on central Australia.