100 days ewt

As discussed previously, the current situation confirms that the unless the EWT is completed, oil flow will not be allowed at an unrestricted rate.

Currently Nido has said they are producing at a restricted rate of 6000/barrels per day.

EWT started on the 6/06/2010 as per previous annoucements.

So, based on the start date of EWT, 100DAYS should get over around 14-15 Sep.

Now at $250,000/day operating expenses our total EWT Expenses come down to approx $25million.

6000Barrels for 100days would result in $45million in revenue based @ 75/barrel (Avg)

So, even during the EWT period we are cash flow positive by around $20million

Now we are out of pocket by $9.25Million as the Rig arrived on the 30/04/2010 and has been there on site for 36-37 days before the first oil was produced.

So, I guess we have to wait for the qtrly to see the cash balance but hopefully it should not look too bad as we did have over $20million in the bank account.

Cheers