entitlement shortfall, page-7

Riz,

I think you will actually find that you are the non-reader.

Whereas I have been very negative/realistic about Thailand for some time, I have not been negative about Phoenix at all.

As usual on Phoenix I have sought to be balanced/realistic. In particular I have been consistently positive about Apache as operator, however realistic enough to see the farmin as inferring a minimum value of $25 mm inferred to CVN (rather than the 50 of your ramp), and realistic to understand that whilst the prospect of gas being present is high there are still risks as to it's commerciality.

Apache are not only a quite successful explorer in WA in particular, but they know how to commercialise a gas field, and both reasonably expeditiously and without unnecessary frills.

I guess you may have missed much of my balance since many of my posts well predate your arrival here.

I do not call three quarters empty nearly full, but I am sorry if that objectivity irritates you.

EL