guijarral hills, page-5

I was going to add to my comments about Guijarral Hills.

The info that I got that selection of data/comment from also indicated that there there were two possible wells at Guijarral Hills.
One is identified as Guijarral Hills Northwest and the other Guijarral Hills Southeast.

Now I do not know whether it is a toss up between which one would be selected as the drilling option or whether it is planned eventually to drill both.

What is indicated is that both wells would cost around US$4 million. So with QPN having 20% in this venture then it would cost QPN about US$800,000 each well.

Now that is not going to happen tomorrow at this stage.

Nations Petroleum (Operator) currently has 50% of the SJJV and would also like to farm out a part of its percentage to lessen its cost.

At the moment that looks like it will be late August before offers are closed and considered. That could be altered by circumstances which could see an earlier decision on that one maybe.