Ann: Quarterly Activities Report June 2013 , page-2

SP up a tad,and so it should be IMO.
Some quick thoughts and a mention of 1 or 2 things almost hidden away in the QR that are sign ificant.
1. The photo is almost certainly of the Elite rig.A modern, reliable,large rig that has been expected to do a lot of drills,over time, for which it is overkill(see below).
2.WBext has plenty of both S and V oil. The first (or 2nd)well in WBext-a while ago now- either WBext 1A or 1B -was a composite ,exploratory well that pretty much went where WBext1C is going.In the ann. about 1C they didnt mention the sandstone targets making it seem as if they were going to undertake a 2-target Volcanic punt-that is an omission that sells CVN short on reality.
Im very pleased to see 1C fits the profile of 1B (Im fairly sure 1B was the major exploratory well early in the life of WBext).
Either 1A or 1B found S oil in the D or E sandstone layer (there was confusion at the time and the partners misinterpretated which layer had the oil and had to corrected the position later).That is good as the F layer is the only one that has produced oil in WB and whether its the D or the E layer in WBext that has worthwhile oil its at ashallower depth than F is in WB.
3. Picking up from where "2" left off the production gains expected down the track have 3 components: