Ann: Completion First of Five Wells, Focus Shifts to Second Test, page-5

blakes,
Yup after 13 successful wells everyone thought this well was a slam-dunk - just a formality to confirm production at this important production site adjacent to the Majuba power station.

Now the whole narrative has been shaken, and this area of the acreage is suspect until proven otherwise.The other potential production sites are down south and nowhere as attractive as this Mujuba site.



I believe the original thesis still holds - KKO have a wide acreage blessed a high percentage of shallow gas all in close proximity to existing infrastructure and customers.

Unfortunately it is going to take a lot of good news from the remaining four pilot production wells to restore confidence.

Meanwhile expect the share price to languish.
At their rate of exploration and development it will take a long time before they can prove viability.
I would be happier with two or three rigs drilling simultaneously.