Cass,
BT and the board have been watching SBS for over 5 years now. You will need to go back to April to see the announcements. But the M&D for the accounts released last night also has a bit in it.
With Mike O'Sullivan on the SBS board, I would expect significant "development" with the Eritrean properties. Mike is one bloke who has demonstrated throughout his career, he knows how to turn exploration into production.
As you know Anvil is pretty frugal with its money so this investment into SBS, well Anvil must think it's worth taking 18%.
We will have to wait and see. I would expect we should know a lot more before the end of the year.
Maybe someone will ask Bill to explain the position better on the conference call tonight.
All the best
KKR
subsahara, page-2
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