Ann: Updated Investor Presentation , page-11

Optiontrader whenever the drills may be its no longer Neons direct role to secure the rig and has not been for sometime.

Eni is the operator and has taken over the rig negotiations. Given they have far more bargaining power than Neon one would hope they can achieve an optimal result given the rigs in Vietnam and its vicinity. (Not to mention their relationship with Petrovietnam.)

ORG/PPP will certainly be an interesting one to watch though the scale is much smaller with PPP targetting 15% of 100MB verses Neons 25% of 600+MB. Fortunately there is nothing to stop people holding both if they wish.