As to the WBE transaction, I dare say most would agree that in hindsight it would have been nice to avoid the dilution last year and forgoe the extra 15% in Xanadu. On the upside, we won't be handing over $2m to WBE for reserves > 8mmboe and first oil any time soon.
Ann: NWE: Xanadu 3D Seismic Results, page-14
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