corporate presentation

We know everything hinges on drilling success but I noticed a coupla interesting points in todays presentation compared to the Dec 13 presentation.

Production for CY2006 came in a bit low at average 245bopd but the estimate for 2007 has been revised up to 340bopd from 295bopd.

Donga (yawn) has fallen off the exploration schedule but two wells in PEL94, Tunkalilla and Telowie, have been brought forward.
VPE only have a 15% interest but they appear to be quality targets. Why?
-adjacent to Harpoono field
-3D seismic aquired Aug 2005
-BPT operator.

The cash and liquid investments has grown from $7.8mil to $9mil at 30-12-06

$3mil is the investment in SSN, ie 5.5% of 192mil SSN shares @ 30cps on 29-12-06

So that leaves VPE with ~$6mil cash if the figures in the presentation are accurate.
VPE state they wont raising any additional cash during this exploration phase and the $6mil cash postion would support this claim.(not including the bonus options of course)

Anyway ,we'll get confirmation of all that in the quarterly due out soon, and none of it will matter much unless they produce results with drill bit.

I took a few off the table today,(trying to be disiplined), but still hold a substantial parcel at the early stages of this drilling program.
Goodluck