expecation for this week, page-39

There is nothing much to say as we wait but:

- I expect results to be reported on a timely basis (red day or green) because delay increases the risk of information leakage;

- One could expect POO to be be trashed to the value of my very say goldie CGT (with below expected results and a cash shortfall) BUT is isn't. The bottom line is that it costs too much to produce crude when wildcat duster risk is accounted for;

- In some ways I'd just like to see the necessary liquidations happen but the real politics of street riots etc. means that money printing is the only option. What may hit SSN in the ST is US Defence cuts.

- Oil in the ground remains a valuable commodity regardless of crazy circumstances on the surface.

- The quiestion is not whether Defender will flow but by how much. Also note that in comparison to the Bakken, Niobrara seems to have a lower IP but a longer reservior life. Each to their own but I'm happy to rely on HAL's DD & insider knowledge of the broader play.

- SSN is a resource play rather than a single well play. That was the point of last Friday's ann.

chers