turn around opportunity, page-118

jovanco...

you were spot on about your comment; "CP have recently stated they are confident the resource will prove to be in the upper area of this range" - this was stated in the 2nd August 2011 research report on Karoon by UBS... the direct comment from the UBS analyst Gordon Ramsey was as follows (emphasis added):

"The main objective of the Browse drilling program is to more accurately determine the Greater Poseidon gas resource (KAR estimates a contingent resource of 3-15 TCF). Note, COP has estimated Poseidon could be as large as 15-20 TCF. The ultimate goal is to prove up sufficient reserves in support of a future LNG development (we assume several TCF is required for Darwin T-2."

commodorecontrarian, is this sufficient for you, or would you prefer to see that comment in a publicly released COP presentation? I think Gordon Ramsey is a very good analyst, and although I like the thought of a larger field, the simple reality is that we will only know for sure once the field gets more appraisal drilling stuck into it! However, that is not to say that there are not already enough indications from the various drill results, 3-D seismic etc to get the COP boys excited...

KAR is a big story waiting to happen IMHO, and I hate seeing it at these discounted levels... especially as I am not in a position to buying more! If my hitherto recalcitrant benefactor George Tattersalls would just work his magic this Saturday, I'd buy a truckload of KAR down here next Monday!!! Come of George, Tatts me out of here, so I can buy more KAR so I can leverage up and really Tatts myself even further out of here!!