elevated gas readings at mbawa, page-18

Elevated gas readings...

Firstly, oil potential was priced in after all the "oil likely" talk spouted by Apache and Tullow.

Secondly, elevated gas readings is like telling us that there was sub-economic traces of gas or simply residual gas across the zones. It just provides no valuable information what so ever and more often than not results in a discovery of residual gas located in target formation. This usually indicates oil may have migrated, so it brings into question trapping and seal issues across the complex.

That is the two reasons for the sell off.

I will continue to hold, not that I'm optimistic about the deeper reservoirs.The major game was the Tertiary/Cretaceous and by the looks of things it could well be empty or have a sub-commercial gas discovery. There is always that chance of an economic gas discovery, so I won't completely dash peoples dreams, but what I have stated is the reality.

This has greater issues for the entire 40,000 acre Mbawa complex. Success here would have been amazing, but chances of that are slipping away...

Lets see wait and see what the wireline results indicate...