Ann: Red Sky Signs Landmark Contract Offshore Angola, page-1425

A lot of vague answers. Seems a lot is happening, but tying down timeframes was extremely difficult. List of questions asked

1. DW1 and KN2 wells - what is the projected barrels per day to be pumped - His answer - need to wait and see

2. Are there projected costs per barrel for the oil being extracted from Killa - His answer - can't really say at the moment. I wanted this to understand what sort of money we can actually make.

3. Realistically when could any of the Angola licence actually come to production - His answer - just said they are working hard on it.

4. There is one existing well, but when asked about when it could be up and running or how many barrels per day it could produce, was told studies need to be done first.

5. If we had an agreement with Viva previoulsy for the oil from Killa, then I am assuming there was already an understanding of how they were going to extract the oil - so why such a large delay from when the first pump broke to now getting this up and running. - His answer - said they have now simplified the process. No real answer as to why the big delay, just they now had a better way of extracting.

6. The existing well in Angola - if that was back up and running, how many barrels of oil per day could it produce - His Answer - No idea. Need to do studies.

I didn't really find anything new in the presentation and most questions didn't get any type of definitive answer. Everything was being worked on and coming later - seems Q3 is supposedly a big one. Quite underwhelmed by it all.

What did you think?