history, page-2

The difference - at this point - between the two companies is the Laurel Formation. Buru's success in the Laurel Formation with Valhalla and Ungani is quite astounding - valued at more than $3/share in its SP in a recent report. We all know what happened with NSE's Lawford deepening in the Laurel. I left a few bucks on the table with Buru - such is life.

As for drilling the Goldwyer - NSE is much more advanced in terms of "ready to drill" and the partnership with Conoco I think is a big plus - we see that already with the rig contract. Conoco's experience + expertise with not dissimilar formations in the US is the swing factor ... we can only hope.

A way to go yet.... we'll know second half of this year at the earliest and hopefully the fun continues for many more years to come.

Persistentone - One would naturally expect the West Coast gas supply to head towards $5/GJ over time. Market there is domestic + mines + industrial usage. I expect we are all out of shale gas plays well before then. With Buru and NSE in the Goldwyer we are looking for higher value wet gas.

Have a good dau all. GB