expect 50mmcf per day in june, page-7

SC58,

"This has resulted in the Joint Venture agreeing to undertake a seismic inversion and Amplitude Versus Offset (AVO) project to further de-risk reservoir uncertainty. The project will take up to 12 months to complete(till Dec 2011) "

1, Since PNOC has agreed with the "12 month" seismic inversion and Amplitude Versus Offset (AVO) project, and this project was just finished in DEC 2011, it's normal that PNOC will further extend the date of decision to drill for NDO. It's unlikely PNOC just gives NDO 11 days to make the decision.

2, Even if NDO gives up SC58, then focus on SC63, I cannot find any reason that SP will drop further before SC63 drilling. after PNOC announce rig is acquired and ready to drill in June/July, do you still expect SP below 5c?

3, Oil price expect to exceed $150/bbl soon, if so, NDO's Golac interest alone, is worth much higher than current market capital. needless to say the cash on hand and other interests.

SC63

The announcement of SC63 will come up any time from now on, PNOC can delay SC63 drilling, why NDO cannot delay SC58 decision?

30 years ago, 50 MMcf gas flow rate reported in SC63, after 30 years, do you think the gas all gone?

The last well reported "drilled off-structure" but still recorded 50 MMcf per day, this time NDO did 3D seismic, what result we can expect if this time it's "on structure"? 100+ MMcf gas per day?