Correct Dino. Furthermore intersecting the Elevala SS isn't a...

Correct Dino.

Furthermore intersecting the Elevala SS isn't a bad thing by any means as the Elevala SS is planned for production from other wells by firms such as Eaglewood Energy, Kina Petroleum and possibly (from memory) Horizon. Looking at a few wells where the Elevala has been encountered:

- Ubuntu #1 (Eaglewood)the Elevala SS had 10m net pay.

- Elevala #1 (Kina Petroleum)the Elevala SS had a 17m gross interval with 11.5m net. The Toro SS had a gross interval of 5.5m with 3.3m net.

- Ketu #1 (Kina Petroleum) encountered gas over the entire Elevala SS with net pay of 10.7m.

Porosity in this member has demonstrated 14 - 17% in the area with a permeability of around 300mD - with good flow rates for gas and condensate.

Looking at Siphon #1(NGE), they have encountered:

- 12m and 11m gross columns for the Elevala and Toro respectively. The question is - what is the net going to be? For this purpose, let's hypothetically assume 60% so 7.2 and 6.6 respectively (Elevala #1 was 67%). This gives an assumed combined net interval of 13.8m or about 40ft which would be ok.

There are still the usual questions such as gas content, water contact, actual closure, well pressures, are the Elevala / Toro connected etc etc... but we'll soon find out. As always there's risk involved and it will be interesting to see how it pans out...