In a re-read of the reserves report from January 2013 I see...

In a re-read of the reserves report from January 2013 I see Arius is listed as a 158mmbbl mean oil prospect with a 22% GPos. It has a good position on the outer western boundary of the license to be a fan reservoir smaller but similar to Jubilee. Other oil prospects are Faucon 105mmbbl (23%) and Choucette 71mmbl (21%). I am hoping these are the targets for the 2-3 well program in May. Petroci signed up in August 2012 to take another 11% of Gazelle only with a back payment of 10 mil due February (i.e. within 6 months). That cash will help cover some admin costs for the 3rd quarter. Cash on hand should stay at about 30 mil. Am hoping Ophir with its recently raised cash will come in as a partner.