how come?

Bit that puzzles me is that we had this doubt arise re Tiof 's future yet HDR and others said after many appraisal wells that there was some 1 billion barrels in place, some 300 K barrels were recoverable, that the tested flow rate was better than expected.

On top of this HDR and others were openly speculating that Tiof could be in production (first leg) in 2007.

So how did we get from what we could justifably take as a dead cert for timely development, to an iffy development possibility, with seemingly a much reduced recover rate, and delayed development outlook (if OK at all), and without any further drilling after the good flow rate announcement.

Also, given past announcements, would it not have been reasonable for us to expect some explanation as to what has caused them to reconsider their past announcements, rather than the limited statements that have emerged, without clear connection to the earlier announcements.

Any thoughts?


Were they jumping the gun with the original announcement, OR did they stuff up big time in their original announcement OR are "strategic" reasons behing this now clouded picture? OR what else?

Frankly, given WPL's conservative approach, I have some difficult thinking that they jumped the gun or stuffed up - leaving the "strategic"need bit as the floater.

PS. When and where is HDR presentation in Melbourne? Advice please.