announcment out, page-31

PRODUCTION SUMMARY
Joint Venture results for the last three quarters are shown in the table below:
Operating Data
December2007 Average sales per day (100% basis) 3,865 bopd US$73.63/bbl
quarter
September2007 Average sales per day (100% basis) 1,203 bopd US$59.93/bbl
quarter
June 2007 Average sales per day (100% basis) 836 bopd US$54.73/bbl
quarter

Sales for the quarter have continued to increase in line with drilling successes and the ongoing well test programme. In particular, early quarter contributions from NS8-D1 (1,400 bopd) and NS2-D1 (1,900 bopd), and late quarter contribution from L44H-D1 (3,900 bopd), have helped the Joint Venture achieve record sales growth.

Coupled with increasing oil production, Carnarvon remains unhedged on oil price and as such
has realised the full benefit of the record prices achieved in late 2007.

Carnarvon realises a net discount to known markers such as WTI due in part to the oil composition.

Further tankers have been arranged to increase sales from existing wells to the current
capacity of approximately 10,000 bopd gross (4,000 bopd net to Carnarvon) by late
February to early March.

That means 600 bopd at us $73.00/bbl = us $43800/day = 43800 x 30 days = us $ 1314000/mth
That's just by adding to their tankers and realising potential from existing wells without any additional wells coming in. POE are currently arranging a 3rd drill rig to increase the drilling program so news should start to flow through faster.

I therefore cannot understand all the bickering in this forum pls people read and analyze results, comments, etc. before posting garbage or downramping.

Ted and his team have done and continue to do a remarkable job during a period of extreme market volatility and will continue to get runs on the board for us. So be patient hold on to your hats you're in for one hell of a ride!