AdrianoAt the Sydney presentation Mr. Yeagar made it pretty...

Adriano

At the Sydney presentation Mr. Yeagar made it pretty clear, if indirectly, that the current operations at Blue Ridge in the upper zones were a real challenge. He has to strip out costs to stop leaking cash drilling these small, highly variable pools.

He was more positive on the Vicksburg where seismic had identified much larger targets. This field was a recognised producer in south Texas. There was some inferential thoughts that the better producers at Blue Ridge may be associated with this formation.

There was some nervousness at the meeting that MAD staff were drilling Woody as a test into one of the targets but Yeagar had selected this well as one of the shallowest to give it the best chance with some updated drilling kit.

Great to see Woody has been drilled to target depth in 3 - 4 weeks. The testing of the identified zones will be important but not final as other targets, albeit deeper, remain. I await the upcoming tests.