Johnny,
After the Hardman saga (saved by the Irish) I am very very wary of early field life reservoir performance. Will never get fobbed off so easily again. If it looks bad, best to assume it is bad. In this case we've seen nothing but expectations exceeded so far (although an update might be nice).
Platforms are insured, business interruption also often, but I've never seen a reservoir insured.
I really think there are plenty in the market looking to see a full quarter of production in black and white, and to see a certified reserves upgrade. Can't entirely blame them, but it might help explain the sp weakness.
EL
21 cents, page-11
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