HYSY941, page-4

Thanks for your kind words Mongy.

Actually my posts have become ragged ,partly because of a keyboard problem and it makes me look as if I cant be bothered correcting my work.

Actually the whole "engineroom" scenario is  going from strength to strength.

re Beibu. . Ive mostly covered the Beibu scene. The recent improvement in accuracy of drilling at Beibu is the result of new .technology that improves control of the drill bit etc.etc.The improvements  have been described as    "Generational" ,the sort of  changes you are likely to see only at intervals of 5-10 years (rather like  Generation 1 Prius cars versus Generation 2 Priuses).

The shift from one "generation" to the next is exciting ,on the one hand,and scary  (and costly) for those

who still depend on the previous generations technology. and cant readily shift to the new technology.

There is a really good ex ample in the market that HZNers will understand..

Remember some posts I put up when Quadrant (unlisted) and CVN (listed on ASX) started a major drill off the  West Coast of OZ last June ? They used the Ensco rig and were hugely successful. The Ensco rig is from   the generation that preceeds the new generation so,hypothetically, the Ensco drill was with, old technology...My view was that because the Ensco rig drilled the largely unsuccessful batch of "new" Maari wells it might return to do them again,when it had concluded the Quadrant/CVN drill.. It never happenned.

So at the moment we have your Enscos (old technology) drilling wells  and doing them well and we have your new technology  rigs  like HYSY941 doing them,in all probability even better. One things for sure- your Enscos days are numbered and HYS941s  reign is just starting.

Staying with Maari for the moment.HZN have stated that Maari/Manaaia could hold twice the oil previously thought.

Now Beibu drilling and Maari drilling are reasonably similar. "Near-shore/fairly shallow water/ territory that cops the breeeze for a significant % of the year.

We have already been introduced,I think, to the new technology at Beibu,courtesy of CNOOC.

What are the chances that OMV are going to also introduce us to the new technology-at Maari???

We got a bargain with our purchase of the extra 16% of Maari.,IMO.What about the prospect of Maaris reserves turning out to be twice the figure/s that the deal with Todds is based on?

.This sea change in the drilling technology is universal. Beibu seems to have seen it- Maari ,if there is more drilling there,will also  likely see it. How good would that be??