faucon, page-2

greg13

We were expecting Faucon to be fitted into the WPL JV drilling when possible and one partner Tullow Oil indivated it would be in October. However, ROC Oil's recent exploration update showed it being drilled in December...which I would think is likley. HDR and Dana have both said it could hold 1 billion barrels in place ..and around 250mbbl recoverable.

It sounds exciting but I do note that on HDR's GOC presentation and elsewhere it is premised as a "committment" well .. that is they have to drill a well before a given time as part of the licence agreement. That doesn't mean its likley to fail .. but it means that they may have prospecst elsewhere with a better chance of success but they HAVE TO drill this one.

H