quarterly report out, page-9

Hi PP

I'll stick with the P50 estmate of 7 tcf for the time being. This is all in-ground & only 70-75% will is recoverable at any given time.

Imagine a water soaked sponge/loofah, thats exactly what its all like, in simple terms (except we dont need water in those Plover sands, we want gas & 191m+ of it!!)

There are 3 things to look fwd from the WL logs, the porosity, gas:water ratio & the net:gross sand thickness.

The last one is an absolute necessity, a thick clean porous sand with minimal water gives u a great flow.

Until now they've used data from nearby wells which are far off from the current location. So its essential that they use their own data & revise the estimates in time.

Kontiki-1, is targetting a similar sort of strucuture, albiet more thicker then P#1, so there will b nervous moments about water/gas saturated reservoir during drilling. Fingers & legs crossed & lets hope its all gas on KT #1, as well.

On P#1, I'd see them take a bit of time with the logging & decide what to do with the DST's, one test or more.

If they test the thin sands first, the rates could b low compared to the thicker sand at the bottom & they wouldn't want to damage the well.

Comes down to safe practices from here on till rig move.

cheers