Surely over bought now. The next capital raising is earmarked...

Surely over bought now. The next capital raising is earmarked for UK investors, so why are Australians buying up?

"*Further drilling in 2011/12 should increase
production to ~ 1000 bopd
*Target of 5000 bopd production by Q4 2014"

What does that say about the likely flow rates?
Approximately 1000bopd by 2011/2012. That will include NWZ2, J50,J52 and J51. Are they saying average of 250bopd per well?

I like the stratergy of proving up the reserves, but I'm afraid flow rates have and always will speak louder than reserves.

Even 5000bopd peak, then declining by 5% pa.

The positive is the wells are getting cheaper. But we still need that production license before we celebrate IMO.