Fan South -1 thoughts, page-4

Thanks H and Ya

I spoke with FAR's head geo and head of drilling on Monday. These guys are basically sitting up all night watching the live feed. They are as excited as small kids on Christmas Eve, hoping for the present they seek.

I can't add to the technical discussion, but it would be remiss of me not to mention the team aboard Stena Drillmax. FAR is over the moon with their performance. They are truly an A Grade oil team, compared with the low performance we got from the old Cajun (which found oil, mind you). Rig downtime is just 2-3% and there have been no accidents. Their efficiency is such that we virtually got three wells for the price of two. So here's a raised glass to those guys.

Success at SF-1 would be astonishing and would surely light a fuse as far as big oil interest goes. I'm really cautious, though: 18% chance of any oil, let alone a commercial field, is pretty sobering. Cath has warned that if we keep drilling we will inevitably drill a duster. Please don't be this one - we saw yesterday how susceptible our SP is to any whiff of a sell-off.

OOO