share price outlook now, page-7

From the Cooper quarterly

"Since 30 June, the near horizontal sidetrack has drilled 432m of Abiod Formation to a depth of 3,443 mMDRT. Major gas and oil influxes and major drilling mud losses were experienced during the drilling of this well section. These well control issues, whilst resulting in progress of the well being slower than predicted, indicate the presence of hydrocarbons and that the Abiod Formation is fractured and porous. Preparations to production test the horizontal well section are underway and are expected to take approximately 20 days. Initial flows are expected to commence in early August provided the well remains stable and no further losses are incurred."

i agree i wouldn't mind if the Australian permit was dropped, Somaliland could well be a huge earner, not sure whats happening with the 2D seismic that was supposed to start in June/July. hopefully we can still get the drill done before the options become due.

"A large roll-over anticline (30kms x 10kms) has also been identified from satellite imaging, which could contain in excess of 1Bboe resources in-place. "

http://info.diiinfo.com/2012/04/announcements/east-southern-africa-dii-scout-29/

looking forward to the quarterly update.