NZ- They're drilling Bongo 2 now! They're about to drill Lyons...

NZ- They're drilling Bongo 2 now! They're about to drill Lyons Point end of August.

Tunisia is beyond their control - but they are drill ready, with rig!

FP2 - thats the real disappointment, but at least we have abit of movement and hopfully a sidetrack drill coming before xmas.

IMO we are in a way better position than we were 6 months ago and hopefully in less than 6 months time we'll have a SP multiples of today (look at some of the percentages of sucess that are being quoted for some of these projects).

Don't sweat the small stuff (i.e short term SP movements) if you're in this for the multiples. If you're here for the few pips then watching this at a "micro" will just frustrate.

I think we'll see continued weakness as portfolio rebalancing goes on for the end of the FY and many take their tax losses to offset CGT, but if Bongo appraisel comes up trumps then we could see some movement pre 1 July.

All IMO, but expecting August to be huge!!! (just throwing it out there)

GLA

Maddoc