15,000 bopd from beibu gulf, page-23

re: not going to go into debt again And it's the lack of leverage in the Balance Sheet that is the problem - they've spent $A37mil on developing Vermilion and it's all come from shareholder funds without a dollar of debt.
They have 20/22 BCFe currently in Vermilion reserves(Management estimate) which will be consumed in the next three years - if we have to wait until they've got 100 BCFe in reserves before they pay a dividend then it'll never happen IMO as my imagination doesn't envisage them ever having that sort of reserves figure.