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Message: Due Diligence for JB#1

Re: Due Diligence for JB#1 - Fish

posted on Jul 07, 2008 07:22AM

The Austin MD&A calls it oil that was produced. How much gas it took to bring it up to 800 BOE is unknown.

What we do know is that after the workover, MEO had flow rates that were similar to the oil and gas flowing from the Howard/White #1 blowout well. Therefore, a slight reduction in the oil (the product that brings in the most cash) in favour of some gas - pre-workover, doesn't materially change the post-workover results and subsequent actions of MEO.

Austin Developments MD&A for the period ending November 30, ,2006, released January 29, 2007 With regards to JB#1 “The data gathered during the testing (i.e. flow rates, well pressure and oil composition) was evaluated by Austin and Montello to determine the most appropriate action to expedite this project.”



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