Good progress report from MAY.Dual production expected from pad...

Good progress report from MAY.

Dual production expected from pad (A2 into U1B, and A3 into either Lower-Alameda or Marti by the sounds of it). API on U1B and overall quality acceptable, and hopefully A3 will be same or better. Well completion is the major hurdle, given the problems previously experienced with A1, but even if Marti "fails" my understanding is that they have cased to the seal point and can now isolate and perhaps produce out of either of the two zones in Alameda. Put simply, the probabllity of two wells off the current pad is high.

Block-9 development plan in progress, and visits from Sonangol and local regulators appear to support these plans. Wider field production therefore slightly de-risked (not in the bag, per se - but certainly a step closer).

Pressing ahead into Marti as we speak, and within 2 weeks (give or take) we will commence flow testing of Marti, then isolate and commence flow testing of Alameda. By end of June we will therefore have many questions answered.

SP commencing a solid grind upwards. Volume on offer actually quite thin and I suspect that anyone already with a ticket to this show is unlikely to give it up cheaply. Favouring a move back up from here.

Buy. Hold. Patience. Almost there.

Kit.