this week's news flow, page-4

shadowboxer - it is a fractured carbonate, relatively tight. You wouldn't be drilling a $60 million well to target this horizon, but while your down there, I agree it would be worth feeling around.

My personal view is that after the now infamous gas-kick announcement (it was real, gas charged zone, just before GWC, hence why Maxwell is live), MEO are reluctant to announce background gas, or minor gas shows. Once they drill down to 3,800m they will run wireline logs before casing, at this point I expect to get news on where we stand in terms of HC-charge.

This part of the Malita Graben is the regional HC kitchen, with deep carbon rich sediments believed to extend down some 10,000m, so it is conceivable that other (particularly deeper) zones may indeed contain significant HC's. This area has been sparsely drilled outside of Heron/ES.