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We know Australia 11 has oil and flowed 105 barrels in approx 12 hours

We know the reservoir pressure has exceeded expectations.

We know Abercrombie has oil rates of between 380 BOPD and 630 BOPD on flow back and within 1 mile of Gretel 11.

We know Defender the 1st of the appraisals within the Hawk Springs is producing oil.

We know all the wells drilled into the Bakken in North Dakota have produced excellent flow rates.

We know SOA has broken through the troublesome salt section.

Besides ripsaw which was a “one off” gas well in Grimes County, Texas, SSN have produced oil from every single well since Gene back in April 2010. So if we go off history as a guide you would have to believe Spirit of America would produce. It may be a wildcat well and have a risk element about it, but we also have a lot of research within the 3D Seismic data which suggests a good enough prospect to redill the same location.

If you look at the success rate of SSN in the last 2 years you would have to think SOA has an excellent chance to produce oil, to what extent we don’t know but what I do know is the opportunity it will represent to Shareholders if successful.

Cheers Matsim