pre..open....guys, page-10

Repayment

it's hardly a disaster. I have come across you before with your sky is falling attitude. What would have been a disaster is if the rig was on site and they were paying 100k a day for it, as I posted last week. We all knew it was still wet for PEL and although it is a set back, its not the end of the world as repayment would have you believe. Yes PEL is the main play but we have Armstrong at the moment which will IMO deliver stronger than expected results. Remember they are only reporting one pay zone at a time so that 7% 47 light crude is from the first payzone only, so another payzone in the first well and two more wells to go(if all goes well with the first). Not great news on PEL but Hardly a Friday arvo disaster.