strange isn t it

Dougga has been independently
assessed to contain a mean resource of 177 Bcf of sales gas, 28.4 mmbbls of
condensate and 9.4 mmbbls of LPG.
(http://adxenergy.com.au/documents/Lambouka-1%20Well%20Results%207%20Sept%202010.pdf)

Lambouka
http://www.asx.com.au/asxpdf/20100923/pdf/31sp19zd8hyw5q.pdf
there you find an estimation of 309 BCF as recoverable gas resource.

1) Strange - isn`t it?
the anouncement from 23rd of September 2010 you do not find anymore on adx`s homepage
http://adxenergy.com.au/asx_announcements.php?t=ASX
but still exists on asx`s page
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=adx
Got anybody an explanation? Does now ADX think they were wrong?

2) Strange - isn`t it
you discover a new gasfield but instead of to keep working with that field ADX decides to drill a new well with dodgy results. The probability to find something with this well is pretty small as it is always when you drill a new well, We were lucky that we discovered hydrocarbons with Lambouka but will we be so lucky with the onshore well in Tunisa a second time? The chance is small even with a good seismic

This point is not strange anymore when you assume that ADX or at least some of their partners do not have enough money to keep on going with Lambouka immediately as it should be done or is done by real oil companies.

3) A downside potential is that the 2 offshore fields are too small for bigger oil companies, even when you install a platform at Lambouk and produce Dougga with cheaper subsea installations. Conclusion: Reduces the chance of a takeover.