Ann: Galoc Phase II Drilling Update Number 16 , page-7

i agree, this sort of outcome (although we aren't there yet) is pretty rare in the O&G space. there are always top people working on these projects but so much uncertainty that things often don't meet expectations.

we are through the hardest bit of the project and really should tip our hat to management, but also to the drilling crew. it can't be easy sinking 6000 odd metres of drillpipe and then going horizontally for a couple of km's at exactly the right place a couple of km's under the ground.

its almost amusing that this could be achieved, yet duhat couldn't get 100m into the ground onshore! different conditions i know (thrust belts are hard to drill because of the stress regime) but at least we had success at the main game and didn't do so well on the side show

for me im looking for 3 things in the next 2-3 months:

1/ get the galoc wells flow tested and pumping
2/ get sc55 advanced and a drilling schedule out to market
3/ start thinking about what to spend all that new cashflow on!!!