As posted previously I would have been surprised if the...

As posted previously I would have been surprised if the information in the HZN's AGM presentation refered to the Huinga sidetrack in Mid 2003 as for (4) of the JV parties - HZN/PCL/ITC/Indo - there is real urgency regarding a very sick share price. Oil flow from Huinga will do the trick of course.

Hopefully HZN will have already done their homework regarding Rig availability and who knows - the Rig could be on site very soon.

Regarding PCL and more particularily PCLOA - there is a bit of a "timing" squeeze coming into play here. The Options are exersizable at different prices through to 2005 I think. The first exersize date is 31 Mar 2003 @ 7.5c. It sure would help if oil flowed in a production test prior to that date. The exersize price moves up to 15c through to March 2004 at 1st April 2003.

C'mon boys get that Rig on site.!

The other aspect is that they would have had the chance to fully examine the logs by now of course. However I don't think they could announce anything regarding possible reserves prior to actually flowing oil but from the formation data they would be able to do some rough calculations regarding OIP. They had a 247 metre oil colume when drilling was stopped.