downside risk??, page-4

This is an 8 well program with 2 rigs , the action will be continuous ,even if one has a theoretical delay . One important thing that will effect the share price other than the drilling ,is the quarterly due out end jan04.With the numbers supplied by JV partner Origon recently , the 1/4'ly is going to spring a upbeat surprise . Success at Kingia-1 will see the share price heading $1.60 - $1.90. This well has a P50 of 26mmbblo, with an unknown P10 of 36-40mmbblo.

Downside is limited . Current production rates alone , to be documented in 1/4'ly will put a line under the current level of $1.03