Ann: Quarterly Activities and Cash Flow Reports, page-25

I should of been more specific, "a hint of oil" as in long term economics of any well and the expected rate of delcine.

All depends on the reservoir rock quality, liquid quality itself , the pressure and the method of extraction verticle or horizontal.

Basic rule of thumb - Landbased need to produce over 500-1,000 bpd while offshore over 3,000 - 5,000 bpd for the well to have long term economic returns given what ever expected delcine rates might be.

Again, it depends a lot on the reservoir conditions (permeability, pressure, temperature, viscosity). Add oil sands and sand quality becomes a significant factor. Unfortunately 200 bpd isn't going to gain much interest due to the economics especailly with oil sub $70.

Never said I was on the energy or any other local boards. I do have regular communication with Cebu Chamber of Commerce and Govt.



Kat.