Regarding share price on AIM - we closed at the following prices...

Regarding share price on AIM - we closed at the following prices (ask, not bid) : 6th Jan 8.1p ; 9th 8.46p ; 10th 8.55p ; 11th 8.9p ; 12th 9.7p ; 13th 10.75p ; 16th 13p. That's a 60% rise in 6 trading sessions so new entrants sitting on big gains and who aren't in for the long haul may have been tempted to take profits. The pullback can't mask the magnificent news that we have commenced back to back drills in Puntland targetting 300mb and 360mb recoverable (total)for Shabeel and Shabeel North.


Time to first possible oil show ? 90 day drill including testing with a 12,467 feet TD. Take off 14 days allowance for flow testing = 76 days for drilling, casing, etc. First target looks like upper Cretaceous Jesomma sandstones. These range from 4600 to 5950 feet as per Sproule report of 31/08/2007. This is based on the generalised stratigraphy of the region. By the way the Darin and Nogal basins have similar geology and it is believed to be contiguous with the Yemen Rift System. 12,467 feet / 76 days = 164 feet/day. Time to 4600 feet could be 28 days. I've therefore made a mental note of 13th February as the approx date that we could expect any oil shows. Obviously this is highly simplistic and localised geology will have anomalies and various challenges but it's still good to have a target.

Just opinion, please dyor.