thank you pbr, page-11

In the interests of accuracy, the drilling at Artemis has been described as 'wildcat' by no less than the Chairman, Nicholas Heath on p.3 of the Annual report, 2010, see end of first column. It refers to the first drill, and 'possible follow up wells' with Petrobras. Heath goes on to describe the involvement of Petrobras as enabling the financial risk to be managed prudently.

IMO it is unlikely that Petrobras will decline to pursue further drilling if the first drill result is not successful... BUT it remains a highly speculative share.

The information in the Annual report is legally binding on the management, and they chose their words carefully. While broker reports cannot be relied upon for the same level of disclosure, I am thinking you have selectively chosen your quote from it. (it is appropriate to at least identify the report if not provide the link). I am sure the broker is compelled to still call this a speculative stock. Which it remains UNTIL something significant happens in the way of discovery.

That said, I remain in for the long haul having got in a few months ago at 31c, being fully aware of the risk.

Gushing should be left to the well.

DYOR