new tinaldo update, page-9

then you must be extremely happy you are not a shareholder with all the negatives you harp on about.

water cut was never going to be fixed by now, thats the purpose of the workover or sidetrack etc.

production has decreased as they have been focusing on the water separatiion which is now fixed and the they are continuing to improve production in the interim.

you're favourite topic, cash. well that still isnt a problem much to your disappointment no doubt. cash advanve on 173,000 barrels is a healthy lot of cash and that was received today. plus we had $18m at the end of last quarter, we received $5.5m today from the advance of Tindalo oil, and we would have received 2 lots of cash from Galoc in the this quarter with another to come. Im sorry but cash aint no problem.

you asked yesterday how I go my 4-6 week figure for us to be back up and producing, well today they confirmed that asthe workover, sidetrack or whatever they do will be done by end of September at latest. sure a typhoon could change that or other issues they encouter but as I am an optimist this hasnt happened so its not an issue yet. and if it does eventuate we still have plenty of cash left.

this is fun!