500m interval oil 15m mcap, page-9

The 4-42 estimate is based joff the Malolos-1 Data. As the announcement states, they hope to combine the old with some more new data from Malolos 4 to further prove up the reserve which has the potential to be "much larger" than best estimate 12 million barrels.

The lowly SP is due to a few wildcat dusters last year, delays and funding concerns, and the fact that commercial flow rates are still unknown.

As the Ann. Stated, further exploration will need to be funded through farming out, sooner this happens the better.