re kik announcement out, page-46

i have spoken to Joanne, she believes the two wells could be produced economically depending on oil price because capex would be low as they would only use the two drilling wells and not need any additional wells like galaoc. Kik are looking to farm out because they most probably wont have the capital, if the project gets approved and construction starts next yr or yrs ahead. Galoc is producing well, with no water cut. The company is worried about the deeper area as traditionally only 1 in eight prospects is an oil discovery. Whereas the small fields have a higher strike rate. Most probably drill some of the bigger targets in the swallow basin.

Still disappointed in the reserve estimates, expected a lot more. Much better than i thought, which is a good thing