Analyst Notes and Price Targets, page-210

I was making a point everyone is ignoring. Let me repeat, Walyering is a very short life asset.

It’s no good telling me that the production profile is spread out over years. Assume RISC know what they are doing. There is a set of finite certified reserves in Walyering which won’t last very long at 33 tj/d. if the production is spread out over longer it is still the same amount of gas, ie the certified reserves. Each well drilled adds cost and the outcome of the drilling is unknown until it is tested properly. SE2 and SE3 prove that is a serious issue. So until drilled and tested successfully W7 doesn’t change the size or life of the field

If you fancy a puzzle, listen to Stuart very carefully in his half year presentation when he talks about Walyering at 6’30” onwards. He talks about the potential flowability of W5 and the new W7 “in conjunction with W6” Does that mean W6 doesn’t flow or doesn't flow as well as W5 or what?