re: us success spurs on amadeus AMU is certainly having great...

re: us success spurs on amadeus AMU is certainly having great success in its current drilling program, and setting the scene for a solid production increase for FY2004-05. Coupled with high oil and gas prices, the scene is once again set for another major jump in yearly revenues and profits from this side of their business.

A minor fly in the ointment with today's announcement that Diemer #21 has come up with no commercial flows - and rendering inaccurate my earlier post of a 100% success rate of 6 out of 6. With Diemer #21 a dud, their success rate is only 5 out of 6 (damned impressive nonetheless).

Still, plenty more drill action on the way - with AMU announcing another well on their Red Creek lease - Major #1 - has already spudded and is at 250' on the way to a target depth of 3600'. AMU's has a 50% working interest in this one.

In addition to the Major #1 there are still a swag of wells to come before end 2004 - 2 deep gas wells on their Lavacca County ground, and up to 7 on their Raccoon Bend lease. Even a very modest success rate will see serious additions to their oil and gas production from these wells.