Ann: Oil Search acquisition in Alaska - Presentation, page-5

What product , oil gas and what geographical position were you thinking? There is stuff out there but it has to compete with IRR of investing internally as the reference point or as they have done by diversifying geographically and with more oil. With PNG bedded in I am happy to see OSH management skills spread their wings and apply skills elsewhere and hopefully speed to market.

Extra PNG exploration without more trains etc is just adding to reserves seen by teh market as so far out before used or orphan as no easy link to existing infrastructure that they are not going to be given full value IMO so I am happy to see exploration skills and $ partially used elsewhere if return is greater.