Ann: Operations Update, page-40

Bhutos,
I agree with most of what you have said, however, with respect to the LT Vs the ST , I would view things like this. Finding lots of oil , appraising it , developing it , and finally selling it is an attractive notion but would also take a while and the economics based on the current POO would probably not yield a very high return . Sure the money would flow sooner than the gas being sold, but the real driver would be proving up the gas and signing gas sales contracts. That would put a very solid floor under BRU, despite deliveries not occurring for a few more years .
So my preference for the short to medium term is for 75% of future activity directed at establishing gas and liquids reserves, and as I said earlier , drill one or two of the best oil exploration prospects each year.