announcement out, page-50

re: espadon west compartment Abumin,

All those things are exciting, but I believe Hardman is very reliant on Mauritania, at least for the next few years and unfortunately Hardman is perceived as close to Woodside.

Just imagine you are one of the coup leaders. You have promised your mates that the loot will be flowing shortly. Now you have Woodside giving you a little lecture about the 'long term' and in the meantime, drilling scientific dusters. In addition, I bet there are a host of other oil companies, very experienced in working in West Africa, whispering in the coup leaders' ears how they could do a better job. West Africa is not in Australia's backyard. We have no influence.

I'm very concerned about the 5 dusters. It will provoke an adverse reaction in Mauritania. Hopefully it will be a warning, not lease reorganisation.

Nick