IOC/XOM Deal Struck?

[Getitrt2]

Sageo, before the decisions and initiation of actions on the new 6-well drilling program, there was an expectation of spudding Wahoo with Rig 2 in November, but that has now changed. Since one of the first three exploration wells to be spudded is Bobcat in PPL 238, in the jungle between E/A and Triceratops, the heliportable Rig 2 is being mobilized to go there. In the meantime, Wahoo-1 in PPL 236 is near existing roads, and the drill site and side road to it are almost complete. Since Elk 3 will not be drilled now, Rig 3 is being mobilized from there to go to Wahoo by water and road; and while not certain it could very well be spudded in December. Drill site clearing is already underway for Raptor-1 in PPL 237 with PRE, which is near existing PRL 15 infrastructure, and it will be drilled with an already contracted WDL rig. Also, contracting of a fourth rig is almost complete, and it is planned to be used for a new appraisal well in Antelope. It is anticipated that all four wells will be spudding by early 2014. IOC could actually have FOUR wells drilling AT THE SAME TIME, and I can hardly wait! Furthermore, an appraisal well is planned later for Triceratops with PRE, and another exploration well is planned for Big Horn in PRL 15, where seismic work is currently underway. See the Q3 presentation. EXCITING TIMES COMING!!!