Definitely will want to develop all they can as fast as they can...

Definitely will want to develop all they can as fast as they can
not sure I agree / believe in 65 oil. At the same time that some are calling 65 oil others are calling 380 oil. My view is we have 80-120 oil medium term

I love the fact that this exploration well as a worst case could end up being a 7th production well

as for development drilling in Beibu , my understanding it is simply rig availability. In the end we may see Beibu drilling that will enhance production / maintain production as w12 8e declines over the next 3-6 months. Otherwise what we have is not only two producing fields but numerous appraisal wells but also a number of near field exploration wells are now in play which should assist in high levels of production and reserve replacement for next few years

it really is sitting pretty and continues to be a very cheap exposure to energy