for captain salty, page-3

re: for salty Hi Salty. Mere mention of Horizon sets my teeth rattling!!! Too many memories of that long winter we waited for Huinga 1B to deliver. Then the dud PNG wells and the disappointment that was China. It was Brent Emmett that persuaded Roc and PSA to be part of the jv. You know there are just some stocks that can't ever seem to strike it lucky.

Maybe Maari will eventually do it for Horizon and its backers, and I appreciate that Emmett has a lot of his own money at risk, but it is not a prospect that attracts me.

So in answer to your question no I haven't run a ruler over it and think that it is a lot to ask of one project to make up for the disappointments of the many that have gone before and are the reasons why Horizon now has a ton of paper on issue.

Curiously enough having bagged Amity for such a long time last year I have been watching what Mclaughlin has been doing and think they are on the right path in developing some prospects in the United States. Once the future of Whicher is finally decided (and the wells plugged and abandoned forever!!!) I think Amity might be an interesting proposition particularly if as I expect the fraccing at W5 disappoints and the shares drop below 50 cents.

Otherwise hard to see value in the market at the moment though there are a few "buy early sell before spud" propositions around like VOY, SUR, and NXS (see acturtle's post late this afternoon). I also like ICN and NDO if they can get some farminees locked in to drill their assets.

But for the time being I have backed my truck up to Petsec which seems to me to offer the best prospect of some significant gains in the next few months. They have done everything right so far and should be a real cash cow in the second half. Fern is even talking about dividends!

But you are right about AWE I too think it will be at $2.00 by the end of the year may be even more with a bit of drilling success at Yolla. Cheers, JBC