I am referring to Bengara II. In 2007 four wells were drilled and one of them had oil shows in the rock formation. A busted drill bit and time led to the end of the exploration as the permit ran out on 12/4/07. It has taken over a year to get the exploration permit approved out to 12/4/2011, but it is done. Now is the time to do the seismics to see what the company has and where to drill. One promising area of the Bengara II block is the Makapan Gas Fiels and I beleive the company is doing 3D seismics there to see exactly where to drill. I also beleive the will do back a redrill where the oil stains were. At the time the manually swabbed out over 100 barrells of oil, so oil does exist.

If we have patience I think this could be a winner. Remember CNPC-Hong Kong is paying for all the seismics and the drilling. We will get 18% of whatever oil they find plus a $3,000,000 bonus when it is ruled a commercial find. That is why I think the Chinese will move faster than managements timeline, because this is a solid field with great potential.