Ann: Operations Update, page-23

Hey CEO.
Nice to have regular operational updates. Also nice to see that so far, BRU is hitting its timelines. Something that until this year, has been an issue.

As you mention, the undertaking of extra perforations in the Ungani-2 well is a totally new piece of information that has never been previously mentioned in company announcements (that I know of anyway). I am using my phone, so to be honest, its almost impossible to read up on the different depths for Ungani-1 and Ungani-2 (which might give some clue to the pay size). Not that I am complaining, but if they have success with the perforations, then we are looking at more oil, how much..? No details given about the potential size/length of the bypassed oil play. Costs them very little to do, but the potential is obviously big enough to justify adding to the work schedule.

In the end, I like the fact that we now have 3 wells that could potentially add more oil to the overall field size (although I think that the U2 potential will be small, compared to U4 & U5), otherwise I think Eric would have given it more weight in the update.