Good Oil, I assume you mean the reference to production testing...

Good Oil, I assume you mean the reference to production testing & storage. I take your point (albiet a small one) and have just spoken with GG.

The orginal plan was to test this well seperately & store the oil on site. As you would expect, it is cheaper to have one storage facility, but at the time of the 28.10 update it looked as though there might be a delay in procurring some of the equipment needed to drill SV Akkar, impacting on the likely spud date. They therefore intended to incur the additional expense in testing this well seperately.

The delay to SV Akkar has not eventuated, plus the weather has worsened considerably. It's currently well below zero and heat equipment would be required (more expense). Therefore, given the spud of SV Akkar is imminent, the decision has been made to drill SV Akkar and test both together, piping the oil from this well to a facility at the SV Akkar site.

In the long run the above makes economic sense. Also there's the logistical problem of having JPR people drilling the upcoming well and production testing this one simultaneously. Unlike a major, JPR cannot simply assign a new team to the task. Unfortunately this has impacted the sp short-term, which I don't think GG envisoned. I think he thought everyone would be as pleased as he is that this well has been successful, although never expected to be company maker.

In hindsight we all wish we had traded our stock for a cheaper re-entry. I've been surprised by the market reaction and wonder what holders expected more than they got. We would like flow rates, reserve estimates, etc, but did we realistically expect this so soon?

I think the trading opportunity has gone and expect a significantly higher sp as we approach spud date. There is also the roadshow in a week or so. You can never tell when a BCC re-rating will take place.

cosmos