Ann: Thailand Drilling Update - WBEXT-2BST2 , page-2

We are off the line again with the rig after months of hiring it out.
WBext2BST2 has the same targets as "2C"- Down to several sandstone (secondary)targets then on to the first V target,then on to the 2nd V compartment.
Its now going to get very,very interesting and I see the similarity of the 2 drills as likely to provide a good indicator of Towngases drilling target selection approach and multi-regime-in-one-drill
(V and S) strategy.
Note the following:
*they still havent tested the 1st V compartment in 2C.
*2B is going to try to stay away from the too-close-for-comfort water contact point that 2C came very close to.
Note particularly the reference to 2C having a continued high water cut-it was at 65% and was/is getting too close for comfort at this level (a V well can expect to water out at about 90% and 65% (it could be higher now)is always going to be a worry.
We are not out of the woods by any means with the new V drilling strategy so how 2C and 2B look in a few weeks time will either be cause for limited celebration,or no celebration.
The overall company emphasis in Thailand could,from choice,be put to the sword in the next few weeks (with a 3rd 2C-type drill,if not a 4th).
Fingers and toes crossed now.