Ann: Trading Halt, page-192

And I trust you'll do the same on Monday JP. Cath's presso at UBS last week (and to a packed room I might add) made it clear that everything was otherwise on track (apart from being stalled with the BOP repairs). There has been no fresh drilling since that time. If there were hydrate issues she would not have/could not have said that everything was otherwise fine. She also confirmed that so far everything was as prognosed and their models were within 50 meters of accuracy. If the issues were as you described FAR would be in serious breach of several listing rules and the Corps Act. As I said last week it's a BOP issue. I have no issue with differing view points and I do my utmost to respect them, but calling calamity and disaster on zero evidence, and in direct contradiction to widely known facts, is pretty borderline in my opinion. It's alarmist at best. And before anyone whinges further, the above evidence was readily obtainable to anyone who wished to make the effort to attend Chifley Tower for 30 mins and actually listen to what the company says. No secret society/insider/Big Boys crap - anyone could call up and ask to attend. And she was around afterwards to answers questions too.

Finally, as to the questions as to why are we in TH and Cairn isn't, again that's simple. The delay costs are likely to be material to us because we're a minnow. They won't be to Cairn because they're huge. If a new BOP needs to be shipped out and fitted it's in the ballpark of 4 to 6 weeks minimum, so the delay costs are going to mount and they will rapidly reach the materiality threshold.

I'm logging off now til the Monday Ann which will confirm the above.