some news, page-19

Unfortunately BeachDingo I am a bit pessimistic about any action even once they have announced the results of their picking over the 20 odd year old seismic.

If I was a betting man I would say that the following is the likely pattern to unfold.
!. Announcement made on seismic pick over about early to mid December.
2. Indications of about 3 "better" prospects which may need further "modern" seismic testing to select best one to drill first.
3. Prabu 1 put on the back burner.
4. If more seismic is required then delay in setting programme. So some time in 2014
5. EVEN if they decide that the review of the old seismic indicates a prime target they will still have to submit a revise work programme for approval to the appropriate authorities as they have not cleared that hurdle yet. So delay till sometime in 2014.

Overall, even if they produce a positive announcement about what the old seismic has revealed, the sheer logisitcs of getting the programme firmed up and approved will indicate more delays. More delays will only compound the perception that QPN cannot deliver on getting to the point of actually getting a drill bit in the ground.

Just my opinion. Will be interesting to see if they beat those predictions. Will the shareholders at the AGM get some action ?