Ann: Kangaroo-2 Progress Report No 7, page-11

So I have a couple of questions.

From the announcement I see the following.

Side-track-1 will be drilled to a down-dip location to target the Paleocene and Maastrichtian
reservoirs on the eastern side of an interpreted north-south trending fault, and to evaluate potential hydrocarbon accumulations in the Campanian. Wire-line logs and a pressure survey will be conducted.

This side track appears to include a new zone? The word potential seems to indicate they think it might have something down dip. I can only guess either these sands are not present in this location or water wet?

Side-track-2 will be drilled into Paleocene and Maastrichtian reservoirs in an up-dip location to test
reservoir and hydrocarbon potential towards the salt wall.

The 2nd side track up dip I guess will now confirm if there is oil or gas updip from current location closer toward the salt wall. If I understand correctly the salt wall is acting like a seal on one side of the reservoir. If I recall their origibal thinking they thought that gas may be present the closer they got to the salt?

seems in this not so great day for OIL the thing that we all expect would happen ( normal sell back down and stay down, rinse, wash, repeat) has not yet happened. What is different?

The announcement was good but not exceptional in that it could change our ever familiar trading pattern.

I guess we just need to be patient. And pray that the oil price changes direction soon.