Interview with Neville Henry, MD Winchester Energy discussing Good Oil Conference, page-24

Thanks Tui, you do pretty well yourself.

WEL continue to add bbls and do so on the smell of an oily rag, check the production and admin costs from the last quarter and you can see that the money goes straight to the drill, these guys are building a real oil company, not sitting back enjoying the lifestyle like far too many others in the spec end.

They seem to have got the recipe right now so will just keep on feeding any spare cash back into the drill until they have material production, maybe a few thousand bbls or so. At that stage expect them to be looking to grow with additional acreage. These guys really know what they are doing and can see them replicating the success of AUT and HE8 over coming years.

Keep an eye on what they do with that top section at Arledge, looks like they are saving the best until last there.