Ann: Galoc Phase II Drilling Update Number 14 , page-6

62Strat,

your call on the drill plan has been spot on. Nice to see we are on track for Galoc II wells to flow to surface. Still a few hurdles to cross so too early IMO to count chickens!

Have seen a few posts regards reserves and Dargie has called a spade a spade- I agree its pure speculation that there will be some type of upgrade anytime soon. An upgrade would certainly help the sp so it is hard to knock speculators (rampers) for puting that suggestion out there. The reserves calcs may be out in three months according to my reading of last nights chicken entrails.

Saw something posted on the Tanzanian areas having sediments which are too shallow to generate hydrocarbons. This contradicts previous official company releases - really the sediments too shallow idea is at best a misguided bit of chat. Some of the stuff on this site has got hairs on it but when you read a gem then all is forgiven. BTW if anyone has the heat flux measurements for the Tanzanian areas then lets see the data! I can't see any company doing seismic if they think the area is rubbish so it is clearly a case of the company puting its money where it thinks it will succeed. When you think further about it the Swala Energy team have had success at African Oil so they have some idea where to look! They won't get anything from stuffing around so was pleased to see the early seismic yesterday. Still think Tanzania onshore has a lot to offer.