Probably the most important issues from the AGM were PE and Connectivity with several O &G analysts concerned with Connectivity after the Hardman / Chinguetti /Wooside debacle . I asked the board ' how strong is our case to PE ' CN reply the JOA is industry standard and tested , so appears straight forward ,the case is Arbitration not Litigation so costs are around 1 mill , FAR has already briefed Dallas lawyers so looks like game on! With respect to Connectivity CN response ,appears 2/3/4 have connectivity to 5/6 and the 400 series sands are a continuous oil reservoir unlike Chinguetti which looked like spaghetti ,so no surprises here . This is a monster field the current footprint of SNE by my calcs is closer to 450 km2 and now inc one of WN 3S and probably the other 2 ,with inc RF will see this exceed 1 billion BoE in my opinion .
Nice to meet you OOO and well done with your reporting .
AGM, page-21
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