Melbourne 88e'rs, page-236

To be fair Mickey, the various scenario's given by DW for break-even, including the P50-mid cost scenario of $39/bbl were based on assumed flow rates, proven reserve size and EUR's. So the implied flow rates from the 2H pilot well will have a direct effect on what the prospective partner/buyer will accept as the realistically likely break-even point between $27 and $68.

Of course, most of us here are strongly optimistic that we will end up in the lower half of that scale....but it would not be prudent to deny that we could end up being on the higher end of the scale. It will also be prudent to accept that we may be off the scale: clearly under $27 would be beyond a fantasy dream, but above $68 implies effectively a 'duster', even though we know the oil is there.

Hopefully I have enough 'form' to avoid this post being viewed as down-ramping, but it is important that we view the $39 figure for what is actually is as of today.

GLTA.