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Message: Initiation of Drill Confirmation

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Initiation of Drill Confirmation

posted on Jan 20, 07 06:40AM

It has been rumoured through various sources that spudding (drilling)of the #8 well has been initiated !! Is this true ?? And when was drilling initiated, if true? Please note that Agoracom's own reply to a post indicated the December 20 News Release said only that drilling "could" commence the first week of January, 2007. Therefore the News Release was not a confirmation that drilling would start the 1st week of January.

Also it has been the past practice of PSH to indicate when drilling is anticipated to commence such as the June 7, 2006 and November 24, 2005 News Releases for the #7 and # 6 wells respectively ; followed by a June 23, 2006 and January 16, 2006 News Releases clarifying the drilling contractor has moved on site for the #7 and #6 wells respectively.

Based on the above, please inform shareholders if drilling has commenced or if the drilling contractor is on site, in accordance with past practices, if in fact the rumours of drilling are true!!

Thank you,

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