Ann: Quarterly Report December 2019, page-3

Reading between the lines the next round of excitement is going to come from the prospects identified or refined by the new seismic.

Do I also detect a looming Dorado reserves upgrade due to a higher recovery factor once the miscible gas re-injection is the confirmed option? Or was that already factored in?

Seem firm on using other peoples money for B-10. Well they know the risks, not me, but I’d say they must be considerably higher than portrayed at the time of the RISC work. No longer counting on my steak. Will be a bonus if/when it’s delivered.

All seems sound, and finances in great shape. I am sure lenders will be encouraged by the history of prudent financial decisions.

EL