quarterly disappoints, page-20

re: quarterly has some positives Hi Pacey

Simon had previously been adamant that the smaller plays would be drilled first in Guyane, if he has switched focus to drilling the big one first there must be a strong incentive to do so, as a failure there would impact the prospectivity of the whole field

Precisely my thoughts. He didn't want to drill Matamata first without a farmin partner because he didn't want to gamble the value of the entire acreage based on one well. The fact that they are going to drill Matamata first clearly indicates to me that they believe this risk is mitigated... and the only way to achieve that is to farmout their huge stake and thus, locking in some tangible benefit in return for getting the acreage first.

Cheers,
618