To be honest, we all know what they have said about Sugarloaf in their quarterly. We know that it is highly profitable, the results on our acreage are above average, drilling costs have decreased, and (assumed) the drilling program was going to step up in 2011.
The most positive thing I take from the quarterly is that they are performing more seizmic data analysis on Yemen which in the report looks promising, and if results come back will drill a 3 well program. If results are positive we will have a new income stream and this minow SP will be a faded bad memory
ADI Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
