how much oil , page-3

I have mixed feelings about the current situation of the last week for shareholders purly based on the somewhat ambiguous way announcements could have been read depending on whether you wanted it to go higher or lower, particularly if you are a trader jumping on the bandwagon making quick decisions. Already long term holders would no doubt be chuffed particularly if they sold half their holdings in the 30's.

Anyway I'v e been going through a few ann. again trying to work out how many more holes to be drilled in the current 10 hole program. By my figuring there should be three more if you don't include reworkings of old holes on the Carter lease. Where are these holes gonna be? The latest ann says new permits for Riddle should be ready in 3 weeks. If these were part of the 10 well program then you would think they would have the permits in place already. Anyone any ideas? Stockton? We may even get a speeded up bit of news re the Wells Farm Lease announcement of July 26.

Looking at July 17th announcement we have Burkesville to look forward to after the current 10 well program (MD in Kentuky to firm up locations of wells possibly for this drill program - hopefully this year) and should get some news re: an authorisation to drill the Vasse permit area soon.

And then all the WA future possibilities. Although down a lot the last couple of days not a bad finish today. People are slowly starting to come to grips with this little beauty.

One thing that I would like clarified is Hawk 40's comment which needs addressing by someone in the game

"What well can't handle less than one barrel an hour and why would you have to choke back something that you need a pump to get out of the ground in the first place."

Cheers and go long if you are into that and trade in and out if you like the risk and stay clear if you don't like the co. Simple really.

This spiel is not intended to sway anyone only remind me why I am in the co. as it has revenue and a fairly sound business plan. I need visual reminding sometimes.