Ann: Quarterly Activities and Cash Flows Reports , page-2

re: Ann: Quarterly Activities and Cash Flows ... Thoughts posters?

The rig changeover explains the absence of any Ann's since the 25th. Malolos' technicals have not changed. They've spent a shit load of time on this well over the last few years. It's high time for a breakthrough.

Pleased to hear their in the process of more acquisitions in France. Hate to sound like a cheerleader, but these leases are being spoken about as being much more prospective than our current crop in the Philippines. This won't help the SP in the slightest short term, but if your like me, and you often double, triple, even quadruple the market depth in holdings, then this next throw of the dice carries a hell of a lot of weight on its shoulders.

We look to have enough cash on hand to get us right through the Philipines campaign. If we get the expected Gas, and a bonus 50-200 barrels on top, funding won't be an issue.

My thoughts are if we eventually mill this junk out and prove commercial flows, we'd reassess where our 3rd wildcat will end up, more than likely place it in the vicinity of Malolos.

We could end up having 2 or 3 wells, een more, all flowing of the Malolos reserves.