re: Ann: Company Presentation - 2nd Oil and G... OMG...DB is not...

re: Ann: Company Presentation - 2nd Oil and G... OMG...DB is not interested in the commercialisation of anything. With the renewed 5 yr work plans for PeP11 DB has committed to the abolsute minimum. Has anyone seen DB do anything w.r.t Pep 11 since Dec 2010. Nope. Yet now they want to go and do 2D seismics. Sorry, how many 2D's can you do. Was it not touted prior to the Pep11 drill that they had in excess of 114mill AUD of combined research.

If they are so certain as to where the gas is, a 3D is more appropriate. But hang on...better wait until we have legal matter settled. When is that? Yep...sometime in 2013. Will the hearing date be adjourned. You bet. Interrogatories, request for further particulars etc. So lets say the matter isn't settled until late 2013, possibly even 2014. Will it be appealed. Of course. So let's wait until then before DB decides what to do.

Funny how there has been no update on the extended production test. No information given as to how/ why the intial 20 wells were not properly plugged. Flowing up to 3Mcfs per day he says. Hmm....one would think the damage to the wells would significantly impact the potential recoverable 'traditional' reservoirs.

Lets face it, commercialisaiton of anything will be at least 5-10 yrs away.

As someone else said. MMR and all associated companies (BPH, GBA) are nothing more than a lifestyle company.