Ann: Baragatan-1A Update, page-28

Yes guys, some early signs are good, and definitely keep our hopes/dreams of a decent find alive, but we need to settle down and wait for more results to be forthcoming.

They have elevated gas readings of C1 to C5 on the mud logs, and we need all to be present for liquid hydrocarbons. As per what GC is saying, a heavier concentration of C4 and C5 would indicate wet gas which would point toward liquid hydrocarbons (dry gas predominately has only C1-C2..methane and ethane).

As Ya mentioned, the oil shows would be on the wellbore cuttings found on the shale shakers (screens to remove large solids from the drilling mud). This also is a very good sign that there is oil around, but it is not definitive by any stretch that we have a commercial find...the hole could still end up being classified non commercial.

We need to wait till TD is reached where they will run open hole wireline logs with tools such an MDT. These results will be much more definitive of a possible discovery, and will give an indication of "moveability" and "producability".
As Harry mentioned, if they decide to run a DST we can get a little bit excited, as this will be to evaluate the commercial viability of any zones the logs indicate may have the goods.

So we still have a bit to go yet, and we should reach TD this week without any downhole problems or breakdowns...touch wood.

Niu, main hold up so far, as far as I can make out, was a stretch of nearly a week with a breakdown of the top drive. Most of this will be costed to the driller, and probably ultimately an insurer.

So we just need to keep waiting patiently, but we have a bit of encouraging data at this point to fuel our banter and imaginations.