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Message: News Release

Re: News Release/Dunnock

posted on Jun 03, 2008 10:44PM

This is an interesting scenario, but I believe the farm in agreements changed and that CIVC has a financial commitment. It had no such commitment when it had only a 12% interest, but took a financial commitment on board when it upped its interest to 22%.

What is interesting to me is the suggestion that PDI are actually doing the drilling. SPE as I understood it, were operators, and I had assumed that Nabors, as well as supplying the rig, would be responsible for providing the crew and drilling, and that this was being supervised by SPE. Now you intimate that PDI is actually supervising.

This implies a level of involvment by PDI at practical level which I had not suspected. Many of the news releases put out by CIVC talk of CIVC and their partners Shoal Point Energy, and do not even mention PDI or Enegi Oil.

You say also "SPE has until August 14 to drill GHS pap#1 sidetrack well #3 vertically to 4040m". As far as I understood it, SPE no longer has an interest in Garden Hill, and it is PDI who have to drill the PaP#1 sidetrack.

I am not questioning your post, but I do find it most intriguing.

Regards

Dunnock

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