ann out 1135bopd production 2 wells, page-7

As quite happens this announcement was played out/predicted last week when we reached 51c. The announcement was good but was expected by many. This flow rate of 1135 bblspd with two more horizontal wells already drilled and to come on stream should take us to 2000 bblspd. Yes they tend to drop off faster than lighter oils. But their target of 365,000 bbls for 2008 should be met. with a resultant income of +$32m. Todays exit was by traders who see a short term top due to the end of the current drilling.