any more news expected????

abuman, xmagx, mycrowsoft, capman et al

I've been pondering what news we can expect in coming days and weeks....here's a few ideas:

1) A Dana JV announcement on drilling intentions. The JV is meeting at present and I would expect something by tomorrow or early next week. They will be announcing the Block 1 drilling target and timing (October I believe).

2) The Dana JV may also have been pondering all the data they now have on Pelican and Block 7 generally ... and I wouldn't be surprised to see an announcement about appraisal drilling on Pelican or to the east of pelican where they believe the oil may be. The additional upside is if appraisal drilling also proves up large gas reserves ... this may make a farm-in by BG a real possibility .. perhaps presenting HDR with another chance to sell their equity at a large profit (to fund Ching, Tiof and Tevet development and perhaps Guyane).

4) WPL JV has been pondering Banda appraisal and to the east of Banda to prove up sufficient gas for a LNG development. An announcement along these lines will really get things going! Remember that they confimed the results of Banda 1 and cut cores when they Drilled Banda 2 as a gas injection well recently.

5) The WPL JV has recently received an independent consultancy's report on Tiof development options. Its unlikley that we will hear anything about this for some time and a decision to proceed will most likley not happen until next year.... but another Tiof appraisal well is not out of the quetsion and that will also be good news.

6) I don't think we will hear any more about the next 3 exploration wells until during the drilling campaign as they are leaving things flexible depending on results.

7) There's always a Guyane farm-in .. that would be fabulous.

8) A sale or swap of equity is always a possibility and Simon has forshadowed this as likley.

9) A hedging announcement would probably be welcome ahead of Chinguetti production ... timing uncertain.

Bring on the drilling.

Happy end of financial year guys!

H