That latest drilling looks like they have cracked it with the...

That latest drilling looks like they have cracked it with the rescabbing of the horizontal wells. And the news that they drilled it twice as quick as last year and had no problems at all looks likely to lead to increased production, especially with the blue arrows on the pictures indicating this. If they can drill the wells twice as quickly, well they could drill twice as many for almost the same cost one would think. And if they increase production in the current oil environment, well these could visit $2. It would also mean a large increase in the dividend.

Also it would not surprise me to see them buy more of the Erdine gas licence from Otto as Otto desperately need this money. If that was successful, could be worth $1 a share or more I reckon. Gas prices in Turkey are like US$7-8 and sometimes more.

People go on about sovereign risk in Turkey, but people in Turkey get cold and need oil for heasting to stay warm and need gas to cook with as well as the next country. And with 97% of energy imported into Turkey and a massive current account deficit, any production inside of the borders is always welcome.


we are on the right bus...................