Ann: Block 9, Alameda-3 Appraisal Update, page-547

I guess we will know in a couple of days (when they have completed their assessment). Either way (a) they could resolve Marti, or (b) they will flow test Alameda. Both good things.

SP rather silly at current levels. Market has literally halved market cap in the past few months. AP has stated that the oil is there, and we saw oil on the shakers coming out of Alameda. 1B API at 19.8, and we are yet to receive analysis of Alameda or Marti API. Doomsdayers aside, there is a lot of positive news on the horizon (including, of course, McDaniel's assessment of Unit A1, more detail regarding the 3D, more detail regarding the 1B production roll-out, etc.). Not a wildcat.

Can see that 6.6 gap being filled in the next few sessions.

Kit.