The Catcher prospect (Block 28/9 and Block 28/10a) was awarded to us in the 24th Licensing Round.  Oilexco has a firm commitment well to the Paleocene Forties Formation to be drilled in the next four years.  We hold a 50% equity interest in the prospect and are the designated operator of the license.

Catcher is a four-way dip closure at the Forties level within an undrilled Forties/Tay Formation deep water turbidite feeder system.  Block 28/9 and Block 28/10a are part of the same turbidite feeder system which contains 120 million barrels of oil and 120 Bcf of gas from the Bittern Field downdip from Catcher.