plenty of excitement expected late 2009

The next few months ahead for ppp are set to be exciting as an active drilling programe is expected to be carried out. We have drilling in 3 different regions with drilling kicking off in vietnam within block 07/03 expected to commence in november following from this we have drilling in JPDA 06-103 late november early december targeting in a rwo well campaign 285 mmbl. Following on from this we have drilling the near TUI prospects is early 2010 . PPP has fallen back considerably (20 %) since its peak at around 65 and since then we have had additional shares being bought by directors and the announcement of the farm in in the timor sea. Clearly ppp are taking a more active approach to drilling targets which looks like there current strategy. They have effectively added much more upside exploration potential for limited downside risk. The problem is with both the vietnam farm in and timor sea farm in is that there are strings attached including government approval and farm in partner approvals. All in all there is plenty of excitement surrounding the upcomming drills but at this stage it looks as though the market is taking a very conservative approach on the likely outcomes of the above mentioned farm ins. The volume of shares has been rather low and the recent big drops were prompted by what looks like tight stop losses in place. Could pick up a bit more coverage as it goes into exploration mode in the next few weeks and we still have the outcomes of the farm in pending which could move the sp in either way considerably. Do other holders view the upside potential increasing markedly not matched by the downside potential ? time will tell hopefully some positive farm in news by xmas