Listened to the Webcast MF, Sully & Warren were being very carefull in picking their words. Warren's 3D presentation was very technical and spoke in Geo language, but you could tell they were both very pleased and excited about about the data received so far. The short summary is that the 3D more than confirmed what the 2D had revealed and they have a much clearer and very detailed data as to the drill targets.

Warren detailed the targets as an inverted bowl with no leaks, I think the people in the know that were watching probably understand how promising this data looks, since this is the first public release of the siesmic this will draw the attention of some of the big players and the interpretaion will be complete towards the end of July when the data room will be reopened for the JV process.

Sully mentioned that Tullow being a partner in Georgetown was a real plus. They drilled six wells and hit oil everytime for a resource of 1.8 Bil BBl's on their PPL off west Africa when the previous operator's had drilled 80 dry holes on the same PPL, I am sure that Tullow got a look at some of the 3D from Georgetown before JVing with Repsol.

Sully also mentioned that CGX bought siesmic data from Suriname and there is a possibility for some future venture off shore there ?.

Up to six wells might be drilled in the basin starting in about a year from now and the price of rigs has dropped substantially.

I would suggest listening to the Webcast as there was a lot more information mentioned, all in all the AGM was very positive and going forward things should start to get interesting soon.

Would appreciate hearing other members opinion of the AGM.

All the best Zibo.