spuds ugandan well target 100 million barrels , page-47

Unhedged, spudding started monday so in the next or two we should hear something.
Low volumes, quite illiquid but building a strong base to move forward from.
Unlike many other oilers, the downside of a delay or unexpected results will be minimal on the shareprice since it is almost cash backed at 16c.
Will sleep better on this one than I have with the likes of VIL and SSN.
I am expecting something to be announced next week but I think that right now is a good time to be holding.