focus on rising oil not falling gas., page-35

I think KAR is a long term play smill. With that said, I think the stock may be down to near A$5.00 by the end or this week.

I do not expect any ANN until approval to drill in the Browse is given. I do not know why they would not approve drilling by COP and KAR.

* we know they are getting ready and are working getting rigs, crews, drilling needs,etc.. ready
* we know that gas is present in the Posiedon formation
* we know the stock is in a downward trend.

Now, given approval in July and positive advancement in contract agreement upon drilling approval, it may be possible to have a rig in place by October. I would not put money on this. I think we will see an aggressive first half 2012 and the stock will reflect this.

I wish we still had Golddigger around to get info from Mark.

I believe in KAR and I think Browse Basin will be stock with great value by the end of 2012.

Bob