Hi H,Simon said in Sydney it might be one structure or a series...

Hi H,

Simon said in Sydney it might be one structure or a series of accumulations

I think the latter is now the likelihood.

As for a clear explanation in the press, they won't be saying much before the logs + samples are in. Butch and I asked about the implication of M2 on the potential reserves on Uganda, and SP basically said none at this stage... so still 30+30 until flow test. Key to commerciality was said to be crude composite (API) + flow rates. When asked about what they were expecting in terms of flow rates, SP said that they were preparing testing storage capacity for about 2000bpod, but wouldn't say what flow rate they were looking for drectly. So one can infer that around 2000bopd would be a good rate.

Interesting that he likened Mputa/Waraga to Dongara (remember that?!) :)... it's onshore, enough reserves to truck to nearest port/refinery, etc. May see similar transportation logistics until more reserves is found (>200MBO) in total.

I must say it was great to meet up with butch again, and good to meet some of the HC boys - keithallen, etc. Neither xmagx nor abuman turned up this year - obviously too busy trading!!! :) I think there was a sigh of relief from SP when he realised that xmagx wasn't going to put him through another spanish inquisition :))

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