mud losses, page-39

Two big reasons:

1) global markets are all down due to current problems in Middle East and tragedy in Japan

2) OXX saw very little in the first target on this well, although the primary target is still to be intersected. i.e will be drilled into later in this week or next

there could still be a huge find down there but then there may not. Risky business and no matter how experienced ENI are the truth will only be known when the logs are run at TD.

cheers

BM