Ann: ConocoPhillips exercises option to acquire a, page-28

re: Ann: ConocoPhillips exercises option to a... hi Digz,

Buffon didn't flow, but WPL did recover 2 gas samples frm the DST tool & the gas ratio was 76% C1 & 22% (C2-C5) with very low CO2 & HE. That's how KAR knew that there were heavies present (as Bob told Al that Sunday morning, 'heavies, Alan').

Buffon samples were analysed by KAR's consultant Worley & after the seismics were interpreted they choose a location updip for KT. WPL, had lost ~300 bbls & drilled with heavy mud wt (overbalanced), since the well was kicking & then that sudden mud-loss. So that's where things probably went wrong. In short, WPL tried to go by the books, but left a ugly mess behind.

I think drilling P#3 would make more sense (after Kronos), since this prospect should b considerably derisked, IMO.

2morrow or fri should b big, i.e. if they don't announce after 4pm to avoid the SP swinging wildly.

We wait for now.