Ann: Quarterly Activities Report and Appendix 5B, page-4

Hi mate

I know David regrets selling Black Marlin too early.

I have no doubt he is annoyed with the current oil market but knows there are 3 drills this year, all with a 80% probability.

I would expect 30 plus to be in the data room...these licenses will get farmed-in.

I highly doubt he will sell-out now. He acknowledges a oil price rebound for 2015.

Perfect scenario for him - hit oil then offload!

That being said, WHEN we get Eyasi, the majors will be hovering over us like a fat kid onto a smartie!!

Gut Feel: farm-downs and decent $$ in the till. Fully derisked - no further raises required.

Another thing, what are the exact numbers for 12B and Kito???

Multiple targets means one thing - the numbers due out soon will blow us away.