almost a bullseye, page-4

"That doesnt look good for qpn......40bopd net and declining....."
Now hold on a bit there davo.

I have calculated things out as I understand the figures according to current information.
Now how much it is declining or how quickly is a moot point.
Yes there has been a rapid drop at J #1 since production started at J #2 but they may be able to maintain that present combined production of about 800 bopd for some time.
Certainly long enough for GGP as Operator to sort out their next strategy.
Now there is some indication of at least another development well to seek more production from the perceived potential north eastward extension of the Miogyp.

There is obviously a plan being developed to check the productive capacity from the Camerina in J #1 when it becomes feasible or desirable.

Salinas is hopeful of getting its plans for drilling a well at either Guijarral Hills or Osso Bucco or Merlot into action before the end of 2009. If that happens then QPN would gain a major benefit if a commercial strike resulted at whichever well was attempted.

So let's not go writing off QPN's cashflow and potential financial boost from a future success just yet.

There are other possible things that could boost things along financially possibly.