88E....TA, page-21

Maybe no oil flowed to date but worthy of considering that if they do have 2-3 billion bbls of oil then their resource will be bigger than Santos and Origin combined.

With the price of oil currently sitting below the cost of production in many parts of the world an undeveloped resource with minimal maintenance costs associated is probably in a better position than many current producers. Worst case scenario 88E prove that they have oil that is currently uneconomic to produce and they park up until the price corrects.

I once worked on an offshore oil field which was designed and built to breakeven at ~$60/bbl. During the design and construction phase the oil price appreciated and when they finally produced first oil in 2008 the oil price was $120/bbl. The entire project was paid for after 3 months of production.