Ann: Monthly Drilling Report - February 2014 , page-3

re: Ann: BPT: Monthly Drilling Report - Febru... Interesting to note that Bauer-13 did not receive a separate announcement like Bauer-12 did.

Btw g12m0, Bauer-13 hit a 13 metre oil column, with 8 metres of net pay in the Namur reservoir, but I think that also means the other 5 metres hit the McKinlay reservoir (which was a target too). For some reason they seem to omit it in some well results, but not in others with the Bauer Field, happy to be proven wrong though. This is an excellent result and will surely further boost the 2P reserves later in the year. Since BPT believe Bauer-12 will add gross 2.5mmbo to the field, I would hope that Bauer 13 will add at least 0.5mmbo, but perhaps more considering the thicker pay? So hopefully, without any further drilling, DLS will be able to book approx 1.8mmbo in August for the Bauer field (60% of 3mmbo).

Totally agree about Pennington, I am really hoping this comes through with the goods, as the market will finally have some proof that DLS will be able to keep production at these high levels for years to come.