Ann: Phoenix Update , page-2

If youre a CVNer and this report doesnt make you smile you are very hard to satisfy.Note:
* the new emphasis on OIL in this report."belt and braces" from here on?
* the reminder that GOOD oil shows were found in the Phoenix 1 "gas"well
* the reference to current Phoenix technical work ,with" particular focus on oil leads"
* the Phoenix licences being limestone and SANDSTONE formations ,in shallow Australian water( see below).
*The reference to the prospectivity of an actual farm-in agreement being reached within a month and with a "major O and G company".
If thats not WPL Im the proverbial Dutchmans uncle.Phoenix- the development that WPL must find it very,very hard not to want to participate in.Note CVN didnt say "Major companies" plural.
The Nebo 1 well seems to be in WPLs WA 455-P licence.
Comment.If you find a worthwhile oil field of extractable oil just about anywhere in the world you can usually get it to market and get an acceptable price for it -thats more than you can say about many gas finds .