Ann: Quarterly Cashflow and Activities Report , page-6

I must admit I was expecting the announcement on Monday, but there again the superbowl had been on so had Tuesday down as a certainty for news which never came :( :(

The thing you have to remember is that this is Louisiana not Texas, drilling here seems much more prone to failures than in Texas. I mean drilling a horizontal well in the Eagleford in Texas in like La Salle, McMullan, Live Oak counties is likely to be drilled to completion correctly about 98% of the time.

Yes the Austin Chalk play is new which will heighten the failure rate initially, but I still think you are looking at 80% success rates at best. Just go and read the wells that have been drilled so far and you will see all the problems they have had drilling them, from various operators. At least 2 ended as P&A's and that was for mechanical issues while drilling from the 14 attempted, you'll be lucky if 5 of the 14 actually went according to plan.

The fact we didn't get news Tuesday does make me a little more nervous.

I honestly don't think 2000 bopd was that high a target, when you consider the lenght of the horizontal compared to the 13H well (2 times its lenght), other wells having done over 2000 bopd already etc.

News must be today

LOTM