Ann: Atzam 5 - Drilling Update , page-103

Hi Guys, Back now from 3 blue screens of death.

T4P, I read you, I understand you, I respect your motives but do not wholly agree with you.

I am becoming more sure than ever that all those delays were mainly due to cash shortage. Our's and Range's also. I believe A4 production cash flow has been necessary to get this far with A5. Quarter Report will tell, hopefully.

Anyhow, that's history and should not be a big consideration now.

Of more interest going forward are their many options with this well. (we assume a multi zone production region)

Will they produce from first possible zones, move the rig a dozen metres and drill to the next, etc till finally at depth and with several producers and max impact on reserve calc ??

Or some other option along similar lines ??

For me, I would drill to depth proving up as many zones as possible, move the rig 500m, drill to depth, etc.

It will take longer but the end result is very long life wells and max long term cash flow. Any one good at NPV theory for oil wells ??

I do agree T4P this is not a one week or one month wonder.

The good players will be here for many years to come, barring M&A. I reckon quite a few 'traders' will find at some point of time that the train has left the station !!

Time will tell -- exciting time, enjoy.