expected news flow

Dear All,

I am fired up like a four balled tomcat, I hope you are too. Remember on Block 105 we are looking for quantity and deliverability of resource. Paraphrasing KC in the Open Briefing presentation posted by Timber7, the existence of gas on all the preliminary testing is virtually certain as you are going to get.

The nervous nellies are amusing but that's about it. As to Block 120, the company speaks in facts and we have members trying to infer things when we have no results! Can one really infer that stating the dry hole costs will reduce the overall spend compared to finding some form of resource and having to drill and test further is an admission of impending failure??? That is an interesting construction to say the least.Dear me...

As to the future, I am reminded of the apparently wrongly attributed quote to Christopher Columbus who is said to have written, "And the sea will grant each man new hope, as sleep brings dreams of home." I hope the sea off the east coast of Vietnam will turn from hope to reward and opportunity!

I believe that any Block 105 news will not be held over for the Quarterly Report but will be announced in its own announcement should news be available for release. In the Quarterly due within the next week and not too long thereafter we can expect to read news about:-

1) Block 105 drilling results
2) Block 120 drilling results (approx. only 1,500m TD)
3) Tanjung Aru upcoming 3D seismic shooting
4) Glau drilling program following analysis of seismic data
5) NSA continued production improvements
6) PV permit development
7) Paloma development

I have waited a long time for this newsflow most of which I expect will come within the next 2 months. Indeed, this is what we all are waiting on. In regards to Block 105 & Block 120 there is no more news of the proposed rig mobilisation , no more waiting for the proposed drilling start date, no waiting for the drilling to start, no news of a proposed site selection etc. until after we will have results of a drill on each block!!! If you aren't fired up now forget it. you are either a dead-head or ignorant.

As was claimed in 1990, I hope the drilling results will all be "a beautiful set of numbers".

GLTA