Ann: Operations update, page-4

Excellent all round - consistent high quality DAF gas content of 8.6 m3/tonne, a new sub basin opening up with Hutul 1S due to spud tomorrow, Gas Adsorption Analysis results for Nomgon-2 are expected next month, and we have an explanation for the 5S Nomgon results, mechanical and drilling problems mean they are going to re-drill the hole to the immediate north of the current location at nominal cost.

In other words, everything is proceeding well, the DAF numbers are high quality again - further de-risking - and the mechanical and drilling problems mean a slight delay while the hole is re-drilled (at nominal cost). That also suggests to me they have found nothing at 5S to suggest they are not on the money - or why bother re-drilling. I'm increasing confident that 5S will be a winner - and if Hutil 1S hit's it either significantly increases the Nomgon sub-basin contingent resource, or opens another basin.