I'm only going on memory, but the Austrailian play could be quite significant,

and the geological characteristics are quite good in respect to tight gas.

I'm curious, without sticking your head out too far Lanman, what are the

chances of the shallow target (4 holes) of coming up with something

that would add a lot of speculative value to FO. Are they targetting

gas only in this first endeavor, or can they hit oil as well.

If they hit some good logs etc. wouldn't exxon be interested here as

well. In the Austrailian play.. can they proceed and develop the shallow

zone only ,or do we have to go the same long route as in Hungary to satisfy

all the license and ownership problems at all depths and define the

exact boundaries of the trough??

To this day i'm still confused why they did not target only the zsolnok,

exploit it, and then move inthe other zones afterwards. Well they

did bag licenses for the entire extremities and at all depths, but it

came at a price of almost bankrupting us prior to the JV.

Personally i would prefer another JV like exxon in Australia if the

results are promising.. jmo's and thoughts.

Atb

Sandy9