Ann: Block 9 Alameda 2 Appraisal Update, page-612

Re potentially bigger than envisioned, a quarter of that webinar was AP talking about how Unit 3 was larger than expected and that it's the main takeaway from the announcement. They expected the heavy oil (albeit hoping for lighter oil) and a horizontal frac potentially flows 3 times as much. He also stated A-3 is the main game, big pressure seen at that Marti zone. Makes sense to drill A-2 and test other zones first, because funding will still be around to drill A-3 as it's more enticing, even if A-2 failed. But it didn't fail, it gave us unexpected upside with 1A flowing unassisted, and larger unit 3.

The last DST has already derisked the area substantially for unit 3 - I assume they will attempt to find its crest for future drilling.

Holding tight for results of Unit 2 and 1B.