I agree with you Marxist on the Suranime front, in fact I forgot...

I agree with you Marxist on the Suranime front, in fact I forgot about South America a long time ago so the lack of information doesn't really bother me although I do acknowledge that a discovery will have a material impact on Company revenues.

Production testing at KN-1 due to commence any day now, and although I would find it annoying in the extreme, I think Roznov is correct that perhaps the Company will focus on appraisal of KN-1 for the rest of 2008 instead of a program in Italy.

They are fully aware that the goal is to get the heads maintained comfortably above 35 cents in March 09 in order to get a 15M cash injection (thanks Surany70) through options conversion, and they probably figure it's far more sensible to provide facts to the market about their robust Tanzanian gas discovery (facilitated by appraisal drilling) instead of taking a punt on a discovery in Italy in order to achieve the said goal - there is only enough cash for one of the activities not both.

Having said this, beyond March 09 would prove very interesting given 15M in the coffers. That's enough for six wells onshore Po Valley and assuming they target six seperate shallow gas plays I would calculate a seriously high probability that they will make a discovery - although we know all about 'dead certs' like Kiliwani-1 and how they end up being not exactly what was hypothesised, or totally different in this case! Lol.

SS.