is cutter delayed

On 24 July, TAP posted a presentation stating, amongst other things, that Cutter (offshore NZ) was to be drilled in 3Q06.

However, MacBank put out a report today stating "Cutter-1 (TAP 40%) in NZ is now scheduled for 1Q07".

What gives? Assuming MacBank is not mistaken, why would TAP highlight an important well for this quarter that isn't going to be drilled?

If Cutter is delayed, and Galloway is a dud, there isn't much attraction left in the stock for the rest of the year (unless further Amulet wells are to be sunk).

Areo