I understand that the testing of PACA 2 has been delayed due to...

I understand that the testing of PACA 2 has been delayed due to the Carnivale in Brazil. Apparently this is a huge annual celebration and most workers take a few days before, 5 days during the carnivale and possibly a few days following.

If you add these to the start date of two weeks ago, testing would have recently commenced.

I would expect that we will get news flow from the first section within days.

Markets are tough again and pity those that sell down because they are scared. We've seen it all before and we all know what happens to a quality stock. It bounces back and bounces back hard.

I managed to pick up quite a few options when people panicked.

My advice, if you wish to take it, is hang in there. Great little company with great management and great projects.

Just like every other time, we can ride this stupid market out and those that did get rewarded. It's worked in this stock in the last 12 months and it's going to work again.

They have a great program of works, PACA 2 flow testing, 430 first location flow testing ( after earning how to get the oil to flow from all three intervals ) and then appraisal drilling up dip from 430. Then you hav development of both fields.

Regards

GoldenBug