hartleys 12 month target, page-19

If you have followed the CVN drilling and Phetchabun Basin geology reports I think in 2009 we will see a refocus away from mainly drilling "production wells".

Once they have 15000 bopd production it appears to me that they will aim to increase their 2P reserves. They intend to do this by proving their long held belief that the poo holding fractured volcanic reservoir/s from NS/NSE/BO-RANG are all part of the one structure.

If they can prove up this theory it would make for one very big reserve and of course provide several decades of low cost oil production. The increasing of oil reserves within L44/43 are vital for increasing the companies value.

The march/april reserve update (up to dec 08) is going to be the most anticipated report within the first quarter.

I do expect that with the increase of exploration out of the NSE production zone we will see a lot more dusters than CVN shareholders are used to, but that's the reality of exploring for oil. We just have been far too spoilt with CVN's superb strike rate over the last few years.