Ann: Quarterly Activities Report , page-17

It would be interesting if there was some sort of timeline involved and expanded information.

"The original data was of good quality, with sufficient charge and recording spread to enable the modern reprocessing technology to produce a vastly improved seismic imaging of the subsurface and also uncovered previously undefined leads and potential prospects."

How many new undefined leads and potential prospects? Initially we were told of 16 Drill sites I believe.

"Further investigation and review conducted during the quarter have indicated that a petroleum systems study to verify the prospectivity potential of Lead A and the surrounding area should now be conducted"

Great, how long should this take?

"The Company is still reviewing the geological and geophysical data before a decision is made on conducting more seismic over the block."

Is this part of the petroleum systems study? Is it needed if the petroleum study says the potential is good? How long will the new seismic take?

Will the environmental companies only start work on the UKL, UPL and EBA once more seismic is done? 3 weeks for tenders and 3 months for completion (so say 4 months there). It wouldn't make sense to do it concurrently.

I think if we were all given a timeline this ANN may actually have been price sensitive, the way it is I don't think the market will look at it that way at all.

So if anyone out there in this forum knows how long these activities take:
Petroleum Study (? Months)
More Seismic (? Months)
UKL + UPL + EBA (~4 Months)

Going from past experience are we looking at around 10 months? That will bring it to 2015. Is there enough money in the kitty for that or is share dilution inevitable?

If anyone out there (nice if it was from QPN) could elaborate on these points for me I would really appreciate it.