re: sellicks 2 :ricky99, page-15

re: oilers . please comment. Hellyeah,

I think your point about reserves in the ground going up in value is particularly pertinent wrt COE.

COE has plenty of cash in the bank for all forseeable needs, and it is probably a reasonable bet the the poo will escalate faster than interest will increase a bank balance. SLOW DOWN COE! Pumping too fast.

Clearly wrt COE and Sellicks reserves and production costs are far more important to shareholder value than production rate (unless you hold an extremely bearish view of poo).

Supertramp,
I am not going to argue what is an acceptable decline rate, partly because my knowledge is pretty shallow. I'd accept that in this case due to the severity of dissapointment, that some explanation from management is probably warranted, and that a note of caution with the original announcement may have been prudent.

Entropylord