It's unlikely that two Puntland onshore blocks will be drilled...

It's unlikely that two Puntland onshore blocks will be drilled this year (logistics, security etc). However, by order of magnitude the following FIVE drills look likely.

1) Trinidad
2) East Texas Cotton Valley
3) North Chapman Ranch well #3
4) Georgia
5) Puntland Darin Block

Georgia could be far more advanced than we expect. A reserve report and a JV restructure are imminent IMO.

There's still $5m left to spend from the cap raising.

Financials are due in weeks as well.