apache deal, page-7

My thoughts only.

The field in Beibu gulf may (...will :) ) end up being a fairly significant producer.

To get such a field fired up you need... human resources. You need chinese speaking drillers, production engineers, OIMs etc etc. In the current market trying to organise a gaggle of such types in say 4mnths to have a field prociding in 18mths is impossible.

Buying the Apache operation comes with something you cant buy - operating staff, some of whom will be siphoned off to Biebu and over time replaced by newe types to be blooded in the mature Apache operation.

In the oil game you need only three things to make money. Good Oil + Good equipment + Good People.

I used to have a few OXR - when OH bought golden grove he stated part of the reason was to expand the pool of mining talent.

Im sure there are other important considerations - but certainly growing to a critical in that region is part of it.

good luck all holders