I think these guys are going to go back and drill Iti-2 in the...

I think these guys are going to go back and drill Iti-2 in the hope of highlighting the prospectivity of the block. Right now confidence and credibility of the board(s) are being hammered. After the independent review Iti-1 was said to be a failure, because they drilled the well in the wrong location (seems like they have a habit of doing this). From the review of Iti: "...it is likely that the company will instead drill another well on the Iti structure at a later date."

I can't see them walking from Uganda. These guys are gluttons for punishment, given they have vested interests in both Tower and GBP. It is looking more likely they could go back to Iti and have a shot, sometime this year. They would want an oil find (as we all would) prior to any attempt to sell their interest in the permit. We will have to wait on the Avivi review, but Iti is looking like its going to get the third EA5 well (if we get another well).