sell sell so i can buy buy

-Great buying IMHO -not alot of cash there biggest negative -many postives major one there 12.5% of Sugarloaf 800bcf 20mmblls or lets play it safe say EKA share is 40bcf + 100,000bbl oil
-rough value- 5mill per Bcf =200mill + 100,000x60aud=6mill
======TOTAL===$206,000,000AUD++
--then you've got Turkey---Don't rite it off yet--

----Off share scence-----
The main target EKA is trying to hit is the Mardin
There are three productive formations
They are in order of depth.
Garzan, Beloka and Mardin.
The Garzan has a history of low porosity, and high water content.
So maybe we should not be that surprised.

What must be remembered is the main objective is the Mardin Formation.

They are currently trying to stimulate the well, in an area where there is no water contact.
While we don't have a 26m of column of producing oil we may still get 5m out of the Garzan. We should know soon.

I initially thought the announcement was a disaster.
It would appear the problems that have been encountered is more par for the course when drilling in this part of Turkey.

The well may still turn out to be commercial as it is, and there still is a minor and major target to be drilled.




-So adding up alll the negative Vs postives
even if there is a futher falls from here SL will take the sp over $1 my pick feb-march yes the whole 60-90days