I was at the BLO Presentation here in Brisbane yesterday - I...

I was at the BLO Presentation here in Brisbane yesterday - I could be wrong on this but my understanding of the 2003 NZ Huinga Drilling on the BLO slide was that it refered to appraisal type wells quite separate from Huinga 1B. The plan to use a workover rig to sidetrack 1B will be discussed at the JV meeting next week. PCL in their Q3 Update are saying - Q1 2003 may be the timing. However we will have to wait for the JV meeting outcome.

Brent Emmetts stated categorically yesterday that whilst H1B was a real mystery - he had no doubts the H1B Permit generally was a real goer. They understood the mechanics of the Thrust Block much better now after Makino and Huinga. He said that the total lack of oil in the production test (not even a rainbow - whatever that means) led to a conclusion that they were not in contact with the Oil Zones - probably to due a fault in the cementing etc. PCL have said this all along.

We hope!