Remembering back to the way Amity Oil used to do its gas sales...

Remembering back to the way Amity Oil used to do its gas sales in Turkey...

The gas sales are contracted to a range of customers on individual contracts, selling at the official gas price less a negotiated discount. I don't recall them disclosing what the discount margin was.

There was minor delay after minor delay with Amity before we saw their production ramp-up. I think it was pipeline land access issues first of all, then delay in installing the customers' gas meters.

But not to worry, we will get there in the end. Hopefully this is all allowed for in their mid-2009 timeline.

I really like this Turkey project. The 100% drilling success, own rig and easy drilling suggest they have figured out how to make this one pay off.