Gentlemen and Ladies.We all know the risks of a wildcat well.I...

Gentlemen and Ladies.

We all know the risks of a wildcat well.

I bought in today - after 3months of Meo been on my watch list from ~ 30cents.

The Cap raising is a positive in my view with a floor at $0.52.

Woodsides discovery today of 2 zones of 30m plus - sure different area, understates the high success rate of the North West.

The NW shelf tends to deliver above the mean of ~ 10% for w/c discoveries and we are at about 10% of the NWS potential.

A major world player is in for the ride.

Management - quality there of - plays a minimal role in the outcome of punts on whats below - imo.

A lot of work has gone in to the decision making process over a long period of time.

20 days _ ish to target D.

I for one, love the risk reward profile.

If you get up at 3am to check the dow,kitco or cnn for left field events then put a token in and watch the ashes.

There will be selling into TD, to de-risk for those in at 52c.

With broker support and a calm period in the geo political sense - we will all be able to come out ahead and have a % in for the success which - I think will come.

Woodside need a little gas for pluto 2,3, etc.

Cyclones - its hot up here but nil on the horizon and the only strong winds will come from the gas of the Art.

Goodnight and good luck.

finch

Karratha/Dampier

holding avb, cpl, spi, sbl current spec port.

views only and nothing more - Siddle was fantastic.