poe operation update available , page-7

Oh well, no Ted spin but even trying to take off the rose coloured glasses, I see it as easily positive with water issues resolvable - going through it well by well

NSE-E2ST1 - unqualified success and reserve adding success

L44-W - water issues - with a reasonable explanation and solution which you will recall EL, from IPM's Selmo, plugging off water was done with great success on workovers - yeah, fair enough, completely different geology and reservoir types and we await to see if the plugging works but with the decent flow rates shown until watering we know this is LARGE reserve adding stuff at Bo Rang if rectified (the oil is DEFINITELY there)

NSE-H2 - success with some water but go back to the ann. on 1/4/09 - NSE-H1 was at 7% water cut and we were told decreasing with drilling fluid clean up - now < 1% - got to believe them when they say this will go the same way

other 2 wells still drilling but blue sky aplenty with NSE-I1

I was worried with the amount of delay for this latest update but with all the work they have had to do and the result, it is a nice surprise

look at the intraday POE chart and you'll see that they were 10% higher intraday and the general market stuff saw them close on the lows
- at 10.07 and off to a lukewarm start though so what do I know