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RUBY1100

08/06/08 8:12 AM

#136597 RE: RUBY1100 #136596

Gulf of Guinea Deep Water (Nigeria and JDZ)

- The Corporation continued its evaluation of drilling locations in
the JDZ license areas and its efforts to secure a rig of
opportunity to commence drilling operations in the fourth quarter
of 2008. In OPL291, the Corporation is also planning to acquire
3D seismic survey in the second half of 2008.
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Lickety Split

08/06/08 8:16 AM

#136598 RE: RUBY1100 #136596

Just as I suspected. From Addax report.

"Exploration and appraisal capital
expenditures totaled $53 million in the quarter, a decrease of
39 per cent over exploration and appraisal capital expenditures of
$87 million in the second quarter of 2007.""

This pretty much says it all regarding ROO activity.

Strass