Gas influxes are very good news. That means high pressure gas...

Gas influxes are very good news. That means high pressure gas and permeability. The nearest recent well to Bongo was initially flowed at 2 mmscf/day and after cleanup completed increased to 5 or 6 mmscf/day. They have announced that there will be testing. It's a producer for sure. The whole area around Bongo has producing fields and there is a lot of infrastructure. Most of the wells in that area near Houston produce at 5 - 7 mmscf/day.

On FP-1 they will most likely test the 2 upper oil zones separately. They may be able to do a dual completion. If not they will plan that for FP-2 (that is unless they find a lot of gas condensate in the deeper target - Texaco produced a bunch of condensate from the north side of the dome). As they drilled with high mud weight and found oil shows while drilling, the pressure and flow potential is very promising here too.

So it's all very good news. My average price is about 3.5 cents and I'm fairly certain that it will be well north of there soon. I expect that we will have a lot of good news over the next 2 - 6 weeks