early birds club, page-11

looks as though things might kick off soon, just hope we see some price appreciation in the near future as drilling commences.

subject to market conditions & oil price anything below 40cents pre-spudding looks like a reasonable buy.

Guinea Prospect considered very high risk (wildcat), possibility of success around 20%.

so one would consider exiting before total depth is reached or if possible be free carried.

if successful as per estimates EXR's net oil approx 12mmbls

12mmbls X AUD$40bbl =AUD$480mm, current market cap around $25mm (undiltued)

once drilling gets underway i'm sure we'll see plenty of interest with weekly updates.

as usual DYOR

regards