Things Hotting Up, page-111

Just an observation

Taken from PCL's recent quarterly report, a small remark that could be significant, stating Albatross is closer to the oil source rocks, than Cormorant. Albatross is North East of Cormorant. The term closer is still short of the target

North East is heading toward PEL94, which GBP say has similar plays as PEL29

"PEL 37

? Pancontinental and its joint venture partners in Namibia, drilled the Cormorant-1 well last quarter. The drilling results are now being analysed and will provide valuable information for future exploration in the licence.

? A number of other major Turbidite Prospects including Albatross are closer to the oil source rocks than Cormorant. The merits of each of these Prospects, in combination with the drilling results, will be assessed going forward."