work over rig due this week, page-6

ebg et al.

work over rig is coming but not as quick as you think, but still quite good enough for all of us.

the estimates would have to be just about done and after the placement is settled i think we should get this after all these guys plays mainly with a straight bat.

flow rate testing i would expect to be completed in the coming weeks. potential to delay slightly but nothing to stress about

but having been in this stock from last year the one thing tha i can say is that the people on the register are prepared to wait and wait for things to happen, they didnt seem to concerned when the sp was 13c or 15c or even 16c so i dont think they have any concerns atm, these guys have excellent tenaments throughout brazil. karoon paid 25million for tenaments these guys paid 90k from memory phil got in before everyone, he is very astute business man. granted they are offshore block for karoon but those same blocks are fetching 1mil now from memory

last year at the AGM there was about 3 shareholders, myself included. this year i would expect a slightly bigger room and perhaps more variety of beverages, lol.... although coke zero is ok, lol..

regarding potential sp price, well i would think if things pan out $1 for the ST looks on the cards but who know what surprises you may see now that they have (proven*-well soon to be reserves) a lot of fields nearbym so the board have many choices and each will be made with our best intrests at hand, why, because they have shares in this! and plenty too. but KAR has done well and they have sweet nothing atm, so i ask you when the rerate comes what could it be worth?


so bring it on.

cheers
BT