legally binding, page-13

I agree with you that this point has kind of been glossed over during the discussions today and is probably one of the most important indicators regarding the potential deal. The fact is that the deal has to undergo FIRB approval and the policy states that anything under 219 million is free to proceed without FIRB approval. This fact means that the deal must include more commitments than just Artemis. From a well cost perspective Exxon just drilled a deep water well in the Philippines on which they were potentially going to spend 100 million if required. The Artemis well would not require this level of investment therefore more must be afoot than a single well commitment.

Just some musings I have had running through my head. Any thoughts?