Ann: AWE's Tuatara-1 drilling update , page-8

How much insurance claw back will BP get ?

I think I read somewhere that BP are self insured so they will not get any insurance.

Image if the operators of the well were a small oil company and not a major such as BP. Not only would they not have had the equipment to solve the problem, they would have gone bankrupt in aboout the first two weeks. Who would have been responsible for capping the well then?

As far as Tuatara-1 goes:

AWE says:

"The well will target the Moki Sandstones within the Tuatara prospect, which is defined by the Malvern 2D seismic survey. It will be drilled in approximately 50 metres of water to a proposed total depth of 2,025 metres."

The yesterday they say:

"AWE Limited advises that at 0600 hours today the Tuatara-1 well was drilling ahead at a measured depth of 982 metres. Intermittent gas shows have been encountered in the well over the drilled interval between 780 and 900 metres. The significance of these shows will be fully assessed by wireline logs after drilling to total depth. No oil shows have been reported to date"

Does anyone know at what debt the target of the Moki Sandstones is located at this site?

Regards

SP