afr article, page-10

J & RS, good thoughts. I have to believe that both JVs will come to some 'umbrella' gas-and-liquids deal over both AC/P23 and AC/P41.

Maybe the key will be these comments from the Ann Rpt:

"3D seismic data has proven to be crucial in delineating the complex structures at reservoir level in this area and so 3D coverage in AC/P41 has been increased through the acquisition of the 500sqkm 3D Octantis survey in July 2007. Interpretation of this data will be key in determining the location of the second commitment well in AC/P41 which is scheduled to be drilled in the 4th quarter of 2008".

The Crucis 3D survey area was a rectangle with a SW-NE axis centred on the Crux structure. The Octantis 3D survey area adjoins the SE side of the Crucis survey and extends about 25km further SE, which is on trend with most of the fault structures in this region. Who knows what they'll find there but they seem pretty sure something's there.