Drilling programme potential, page-22

Plenty of activity around the ORA, with all three support Bourbons hovering around.

http://www.marinetraffic.com/en/ais/home/centerx:-17.6/centery:13.7/zoom:15

The positives we are receiving as of late has really set the mood for an exciting year ahead.

1.COP stating- ' second well on our offshore Senegal SNE discovery had very encouraging test results, We have just finished drilling the third well and are currently preparing to TEST'.

2.Cairn Energy, recently gave guidance that due to operational efficiencies resulting in the drilling being well ahead of schedule, we expect to be in a position to drill a FOURTH evaluation well within the budget for the initial three wells.

3.Job add- drilling success in Senegal and NEW drilling PROGRAMMES scheduled in Senegal.
Are we on target for a four + three well schedule, busy times ahead.

4. Cath Norman "We look FORWARD to bringing more news of drilling results and resource revisions for the SNE field in the coming weeks."

After a large cut in positions (almost half) over the past eighteen months, CNE has recently started to rehire on what appears to be on several occasions, trying to employ some very high end skills. All of this occurring as this appraisal programme moves forward.

The biggest positive I am seeing is there are no "IF'S, as the oil game is full of uncertainty. The only leaks I witness from this tight hole policy, is how optimistic the JV have become.