Ann: Drilling Update - Encouraging Indicators at Dukas-1, page-19

Am surprised STO didn't plan to accommodate the issues they now appear to have earlier, as per the attached from earlier this year it was obviously known that "drilling would be tough and slow going while the target zone could be over-pressured, creating interesting drilling conditions!". It would appear that Mr Strachan was spot on. Let's just hope he's also right about the 1.5Tcf potential and 55 cents extra on the CTP SP.

I have a bad feeling we will be lucky to have a new rig out there this year, but let's see.

Suspect MQG's 30m options will likely expire in the next few weeks, however the 22.5m due by year's end are looking promising for them.

In other somewhat interesting news, JP Morgan are back in the Top 20, having dipped out in December last year. Safari Capital have exited, with a reasonable return on their investment however a new player Dynasty Peak (Avoca Super Fund) have joined. The Top 20 has started to rise in overall % which can only be a sign of improved confidence.