Ann: Exoma Completes Scotty Creek 1 Shale Explora, page-5

re: Ann: Exoma Completes Scotty Creek 1 Shale... Hi pilatus, my thoughts for what they are worth;
From following the map of the drill program so far, I didn't get the view that there should be any great expectation on this drill hole other than confirmation as per their release. This is all part of mapping out where the extent/perimeters of the resources.

The SP movement over the past few days was more based on rumours of an impending announcement from the company which didn't eventuate and as such the SP price has slipped back to where it was over a week ago, which is in line with the recent reports estimation of price should Katherine West not be a commercial oil discovery. The pressure is now on the data from the original Katherine Well and the recent data from katherine West to ensure they hit the right target ie katherine east which is supposed to be a larger oil resource.

Also the increasing comments on the cash needed to continue the drill program through 2013, which will probably leave them short of the expected drill targets (maybe 17/18 instead of the planned 22) It appears the current cash and CNOOC funding will only last through to the 1st quarter of 2013 and with the options falling due and out of the money (not exercised) bat the end of September, the company will miss out on the resulting cash injection to continue the drill program.
What does this mean - not sure other than to point out that CNOOC are committed to the next 4 tenements and a number of the senior management of Exoma have a lot of their own capital tied up in this exploration which is encouraging.
Maybe a placement?