follow up volume, page-73

I think it will be very close to November for both those reasons but, more importantly, due to the simple logistics of mobilising a rig in time. I do hope however, that we keep this one for ourselves at this stage. Not an overly expensive well and worth a punt on the massive returns for the success case.

SC58 is the elephant in the room - well potentially a whole bunch of elephants... Time is fast running out for a drill by Jan 2014 and no announcement of a farm-in yet. Given the drilling commitment together with PNOC on SC63, it might provide the opportunity to approach PNOC and DOE to negotiate a further extension on SC58, if only to ensure that SC63 gets adequate attention. Even then an estimated 40 to 50m USD dry well will require a farm in - way too much risk to fund this alone.