kr1 at 3034m, page-4

Absolutely Digz. I'd b happy to see the SP meander into the mid-$8's. With oil hitting the $80+ mark, most energy stks are doing good, althou' that broker on Fox BIZ last nite was still wondering why the SP was so high despite no production etc.

However, IMHO things could go bats in the dataroom once they prop up the wideangle 3D seismic data (WA3DS).

Remember its the first time ever anyone's trialled it in BRZ!!

KAR already know the pre-salt HC potential for its 5 targets & I'd pick Jaragua for first drill lateR this year or early 2011. What most would like to see is the 'SUB-SALT' signature of HC's. If the WA3DS shows that, then we could have an additional ramp up of the estimates.

For now though, happy with the current estimates. This survey is strategically targetting the trend in the area which is NE-SW.

Also worth noting is, that OGX has a net risked recoverabe resource of 1.688 BBoe for its prospects within its 5 blocks in the Santos wells (BMS29, 56, 57, 58, 59) & they plan to drill 9 wells this year. As of now they haven't drilled any wells here, all 5 discoveries have been up north in the Campos.

Worth keeping an eye on WPL in Q2, as they drill their second Pano-2 well to the NE of KAR's block.

I wouldn't b surprised a bit to see WPL walk in for a minor 12.5% stake, just as they've done with PBR-REP-VALE & this is only my view.

It's good that KAR has BRZ as plan-B & of course Peru, both have good prospects. Thing that bothers me most, is why did WPL wake up late with regards to Peru? Atleast for once I'd say they r following KAR's lead in Peru :))