I can't help feeling that 700 MB oil is a bit over the top. I...

I can't help feeling that 700 MB oil is a bit over the top. I would have expected something between 300 and 400 MB.

STO's cut of the field would drop to 45% if (obviously when) CUE buys back in.

However, at this stage, Jeruk is now a part of history... the market will set the prices accordingly.

What we now need to concentrate on is the new well about to be drilled by STO - Agung. The problems with Jeruk have delayed this beauty for months, but now it is about to start. The preliminary estimates are 550MB oil, but it has been suggested to me that it will also turn out to be much much bigger than the original estimate. (obviously on the basis that there is oil there in the first place).

Unfortunately for all the followers of CUE, you are not involved in this well. STO has 40% of the action.

For the listed warrant traders amongst us, STOWMF ($8.00 call warrant 3:1 ratio, April 05 @ .32) or STOWMG ($9.50 call warrant 3:1 ratio, April 05 @ .135) could provide some fun and games. STOWMG is higher risk higher return if a big find occurs.

My feeling is that STO will start to edge up once the gaming public has a good look at the Agung prospect.

Good luck... I own STOWMG