Nothing actually new in the 'communication' letter.
The major concern for SH is the flagship project in Brazil.
Assuming the appraisal well is a huge success with 200 m barrel of oil proven in the ground, will the development go ahead if the oil price stay at current level* or lower. What is Plan B ????
* The oil price unlikely to go beyond $50 in near term as the the American shale oil still making a margin in current POO and have massive capacity to increase production.
Ann: Letter to Shareholders-KAR.AX, page-5
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