Hello Shareholders, thanks for the feedback from AGM.I spoke...

Hello Shareholders, thanks for the feedback from AGM.

I spoke directly to the managers,and received some insights which i will pass on to you guys.


California landlords are difficult to deal with and there is a lot of red tape to get pemits for drilling. Unlike other regions in the U.S such as Houston Texas and surrounding areas.

The reason that Paloma Deep 2 was drilled at that time, was due to the acreage licence agreement or agreed terms to be able to keep the land permit. In other words, conditions are set out and must be abided by the permit holder to carry out x amount of exploration wells in a given time frame. This condition is ongoing and must be met.

In regards to my views in bringing on the paloma production schedule as soon as possible! This will take some planning and lots of meetings to finalize a best plan of attack.

This is what i was told. "We will have a better understanding once we have finished testing the Lower Stevens zone of PD 2. We are looking for a flow rate of up to 100 BOPD, steady flow over a substain period".

Then we will Finalize the contingent reserves into probable reserves and look to find a suitable large oil company, with the expertise in oil fracking to take a large share in return to fast track the drilling of horizontal wells needed to bring online oil production in the vicinity of up to 800 BOPD, increasing exponentially.

How long this will take I do know. They know my views about production. I mention it a dozen times. Production is the life blood of an oil company.

Ken is extremely Bullish on Vietnam and ENI being able to drill in all the right areas, hopefully starting in the next 6 to 7 months. Expect News flow on Rig availability soon.

I also asked about Paris Valley. I mentioned that Paris Velley has been talked about since 2008, and now its 4 years on and we are still at the starting gate. I said lucky for us they dont own Black Cavier! Paris Velley is one sticky point that is out of the company's control, at this point in time. They are hopeful that this will all be sorted out, but dont hold your breath.

Glau lease drilling to get underway middle of next year. Ken is also very bullish that these low cost wells will bring added production in the short term.

A lot to look forward to, and yes Sherlock, I am definitely a lot more assured today than over the last few weeks.

DYOR

Goodluck