Hi ChrisI can't claim to have been at the meeting but I have...

Hi Chris

I can't claim to have been at the meeting but I have viewed the presentation. And from the look of the bottom hole location for Ungani-3, in comparison to the first 2 wells, you would have to say that it will be at least 3 kilometers from these initial wells.

And to me this says we're talking about a lot more than 10 million bbls. It will be worth checking this when they announce the actual drill location, because it seems that the areal extent of this field is potentially a lot larger than has been discussed to date. Moreover, they seem to be targeting a location which is substantially updip of the first wells, which again implies reserve upgrade upon success.

Of course, it could turn out that this well will not encounter hydrocarbons, but you would have to think that they are fairly confident.

Keiran even sounds increasingly optimistic about NT negotiations which augers well for starting production early in the New Year.

I must say I have been very impressed with Keiran's management to date.