Ann: TTE 2013 Annual Report , page-37

bc,
I don't hold much hope for these Caprock drills but you never know until you test. At least they hit a couple of oil zones and are proceeding with C#2. They have had very bad flooding so things have been seriously delayed.

I would expect next Quarters admin to be way down. The last one would have included Thomas's ( not Levy's ) departure.

I cannot believe the sp but hey that is the market and to be fair, TTE has disappointed in several areas. But they have some very good assets and I am heartened by AWE's desire to get on with the Drover shale well. AWE have a pretty good grasp of the WA shale potential and this weeks' NWE Arrowsmith results will have pleased both AWE and TTE.

If I was TTE I would look for a sale of their 18.5% share either to AWE or to someone else... but I would make sure the hole was drilled first.. This could be a very successful drill. The WA shale scene is starting to hot up. Zero value has been put on the WA assets. That could change quickly with Drover.

Here's to praying for some more production and for a decent Drover drill. Good luck all.