time to top up...., page-5

re: hdr finds oil again in uganda The heading is the best part of that report!! IMHO what this result does is confirm that Uganda will be very significant for HDR. Simon has already essentially said that the two discoveries already made are commercial in that they will be quick to bring into production and costs to process and truck to the coast would be around $10/barrel. He's had experience at this before in Russia where production from a 100,000 bopd filed was trucked out. Three out of three is very impressive.

There are a number of othere prospects along the fault line and larger accumulations are expected under lake Albert....previous presentations have said these are "dip and fault-closed structures offshore - with individual potential for 100-500mbbl recoverable". This type of statement is easy to overlook and discount when its a total greenfield ... but not after 3 oil discoveries!

H