Ann: TDO: WA/527- P Update (Amended), page-49

Hi Top Gear

Thanks so much for replying to my post... your response is exactly why I asked for peoples opinions because in a crude way, it would give some direction as to possibly where the market the market expectation lay, as "we" are basically the market... I understand the hot/ smart money is the main driver of the SP, but for me, with the more onions that are voiced I was hoping get get a feel for the "consensus" expectation , yet appreciating that the "consensus" wold be based on a significant lack of detail.

I regards to the Euroz report, I find it perplexing that they value a net 35 million barrels to CVN for Dorado at $15 a barrel to make $525 million, (but this field has not been flow tested and that potential 35 million barrels may take 10-15 years to produce) yet they risk the 31 million barrels at Buffalo at 10%, in a field where the individual wells have produced at 20,000 barrels a day+,( where that oil will be produced over 4-5 years) and value that oil at a measly $1 a barrel... IMO, either they are overvaluing Dorado or more likely, significantly undervaluing Buffalo.

Cheers

And again thanks for your response

Dan