Ann: Market Update, page-3

Quite a few red candles starting to stack up on the CME WTI August 2015 futures chart. Might have some buying opportunities coming up if we get a couple more similar weeks.

Speculator can you give your unbiased take on this from the update.

"In the Western Wet Gas joint venture with Santos, the exceptional drilling results in FY2015 – seven new discoveries from eight wells – are expected to result in new 2P gas reserves initially being booked at year-end, with the potential for additional 2P gas reserves to be booked following testing work planned in FY2016"

How do you interpret the word "expected". What level of confidence does the statement above convey to you. I'd imagine there will be some value tied-up in the outcome of these expectations. How much? No one on these threads has ever been able to tell me. Care to give the base case value of these seven discoveries a shot Spec.

Eshmun