Ann: Galoc Reserves Update , page-11

I got the feeling today was more of a panic dump due to the 9700 bbl/day number rather than Boni doubts (figuring that most have written Boni off already based on low COS and a dry Balqis result). If so, then those hitting the panic button must have missed the production charts in Otto’s quarterly – production had already dropped back to around this level at the start of the year (around a month after start up). It sounds to me as if output has held up reasonably well since then.

But, yes, the reporting style leaves a lot to be desired. If this is indeed the expected output performance, how did they ever let themselves create an expectation among some that there would be 12,000 bbl/day from here to eternity.

Still at least double pre-phase 2 flows and not reason to panic yet.