just curious, page-16

re: just curious. agent.agree your diffidence abou arttse,

Just on this bit alone....
"Drilling, particularly in SC54, will be executed next year. They have ample time to review the seismic data and identify targets between now and late next year. For example, they could potentially drill Coron North tomorrow (if there was a rig available today)...as they already have historical data to base their decision. West Linapacan could also be drilled tomorrow for the same reason."

Do you have any idea how long it takes to plan the drilling of a well (if you don't want to waste money), then get approval to drill it from the appropriate authorities? Just look at how long Galoc has taken!

Do you have any idea how long it takes to secure long lead items of hardware required for the construction of a well, not to mention a rig and an FPSO?

I'm here to tell you that Coron North and West Linapacan could not be drilled tomorrow, cept in your dreams!
Just look at the mistakes made on the original drilling of Galoc with the vintage of the data you are referring to.
I'm also very sceptical that they can be drilled by late 2007. We're not even expecting oil out of Galoc till late 2007 early 2008! Where are they going to get the resources and MONEY to be drilling other wells before Galoc even comes on line?

......I must say, the one possibility is the JVing with a large major, but I think NDO will need to prove themselves before a major would be interested. If a major comes in before NDO has a chance to make a lot of money, then NDO will end up being free carried on one of their own assets for a 5 to 15% share of profits, and the major may want to be in on more than one asset!