Ann: Update on Appraisal Well Drilling Program Timetable, page-285

It’s a very poor and sad outcome to date. For mine it’s doubly frustrating as I have pushed to promote production over exploration ever since the globally significant discovery was made. After the Zapato duster there was one short phrase from AP “time to switch from exploration to production “. I would have thought that time was well past well before and I still don’t see why a second rig couldn’t have been deployed to produce from the easy drill upper sheet. Is there time for resurrection, maybe but it may just tumble like a house of cards also. I think AP’s confidence will be starting to fray by now. I am glad I pulled out a significant sum and placed it elsewhere whilst we were still in the 8’s. Of course I hope we are in production by the fourth but it’s a very strange world we live in master Jack. Wise to keep working for a while.

I don’t know. Whereas I have predicted most of the issues to date with MAY, like the PA at Alameda, the duster of Zapato and the delays etc along with a slew of lesser issues like broken drill strings I don’t have a clear view of what lies ahead. I am sure that AP in Cuba is not just about logistics, I expect he is pressing a lot of flesh and doing some fast talking. I am not sympathetic, much of this is of his own making. It would be nice to think that he can right the ship and get us back to plain sailing. Do I take it for granted; he’ll no.