selling relentless, page-7

The only bad news I can imagine atm would be a further reduction in production rates at Chinguetti to levels suggested by a couple of brokers now (i.e. around 30k bopd). If it does fall to those levels, it will be interesting to see if the 1.40 level can hold. Unless other good news is announced beforehand, I doubt it would.

I beg to differ on that call, ellroy.. I think the 30kBOPD has already been factored in, so it should hold 1.40 barring any reserve downgrade or production rate falling below 30kBOPD. Anyway, I think the instos has been well-informed of the 30kBOPD, and no further downgrades would result from such an announcement since almost all the report I have read to date are all suggesting that figure to be the lowest point before well intervention.

As a close-ish comparison, woud you pay 1.16 bn for Hardman's E&P assets or 826mn for ROC's? I know which one appears more 'expensive' to me.

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