not sure what to make of it, page-13

Great thought GD -

"A sands at Kronos 1 may well have thinned out so much that it will not exist in the well also the b sands would have also thinned and could quite possibly have merge with the c sands ."

I forgot about the fault block and the effect of where the sands might be found. You brought up some interesting points and I thank you for your knowledge along with other posters.

It may be possible that the C sands may not be as big as we thought. Go back to the chart with Kronos-1,
Poseidon-1 and Poseidon-2 where we found the water. (Poseidon-2 progress report (Ann 33812 3/3/10)

Your calculations of ?139 mrts of c sands + 68 b sands = 207 mtrs of net gas sands at p1 not including A sands and with 334 mtrs of gross potentials sands at kr1? may prove to be lower. Please forgive me for I am not as knowledgeable as you are.

What would be your thoughts if they only found about 1/3 of the sands and had HC present. Do you think it would be advisable to go into production testing given a good flow present?

My thoughts are the market will stay stable at the present point. I was hoping to be around A$9.00. Now I am thinking A$7.50 to A$7.80.

I feel that A$8.50 to A$8.70 if they plan to extend the testing(Production)and A$9.00 to A$11.00 if production viable.

Let us not forget the possible 6 months before possible drilling again. We may face possible drop in share price.

It is my opinion that the GAS is there. Kronos-1 will be plugged regardless because we cannot turn this small hole into production. Watch the size of the next rig to give clues of potential.

I know we cannot give advice and I respect that. My plans are to hold because Brazil will be appearing and I do not want to be caught with no stock.

Please accept this post as another thought that may occur.

Bob