we lose due to mgt incentives n market?, page-6

there are project in the pipeline

Mosman / Rockingham

The Company recently received new 3D data covering this area and has drilled a discovery Olmos well the Wheeler #1 which IP’d for 220 boepd. Additional drilling is expected in the future to value the potential 30 additional locations that could contain 3.0 mmboe.


3D Mapping Project

Focus on oil / condensate trends at reasonable depths / costs to test;

Additional 3D interpreters have been added to insure a steady flow of conventional 3D based prospects will be available to the Company;

Dicks Dome - A large undrilled conventional 3D based prospect is emerging from this program. The Company is in the process of lease checking for open acreage;

Corindi and Dunsborough prospects have been identified as gas condensate prospects that may be leased for future joint venture drilling;



Resource Projects

Whitsunday Project – A Stealth Resource Project in East Texas to re-develop 40,000 acres of tight oil reservoirs offsetting old field areas;

Port Douglas Project- A Stealth Resource Project in East Texas to re-develop 15,000 acres of tight oil reservoirs offsetting old field areas;

Torquay Project- A Stealth Resource Project in East Texas to horizontally drill Eaglebine reservoirs;



Farmout / Joint Venture Program

The Company plans to farmout the following 1-2 well prospects that have been leased and inventoried in the past in addition to the Pearsall Shale Play.

Scarborough
Coolangatta
Sunshine
Angourie
Pearsall


the potential drilling programs appear to be 4th quarter

from what i understand, the dicks dome project is advancing, texon has been acquiring seismic and appear to be doing lease checks and perhaps leasing as well. if the play is vicksburg salt dome as i suspect cliff was discussing at the agm, then it has a large potential upside.

so the next 30 - 60 days will involve monetising the efs, developing an understanding of the olmos potential in mossman rockingham, and lease checking and potentially leasing a few projects for drilling in the 4th quarter

the 3 stealth projects in east texas, torquay, port douglas and whitsunday are interesting ones imho..