Ann: Drilling Report 4 - Brunei - Possible Reserv, page-2

re: Ann: Drilling Report 4 - Brunei - Possibl... The news is very good even if AED is determined to play it down. They seem to go out of their way to tell you as little as they can possibly get away with. They don't bother to tell us directly that for example there were numerous hydrocarbon shows in the mud or the cuttings but suggest that there are HCs by this comment in the ann:-

"An extensive logging program will be initiated today including wire line logging and sampling to evaluate the well, and determine the extent and nature of the hydrocarbons"

It's not until you get to the end of the sentence that you realise they have used the word HC. On a scale of 1 to 10 I would evaluate the ann. as a 2 for the information that it conveys. It's about time they lifted their game!

What will this ann. do for the SP today? In the current environment and due to the poorly structured ann. I'd say we will be lucky to put on a cent or two but the final outcome could be very significant, provided that AED do not decide to keep the testing info. to themselves.

ANZ