Ann: Operations Update, page-64

No... The Oil Price only makes a difference when we will be selling it. The oil price will fluctuate between $45 and $65 over the next couple of years. The extremes of $20 per barrel and $100 per barrel are short lived market reactions. The current SP does not make a difference to 88's viability at the moment.

I work in the Marine industry and deal with oil companies on a daily basis. The past couple of years have been very quiet in terms of investment in development of fields and exploration. This is changing. There are many majors with tenders out at the moment for upcoming projects and this to me is a solid reassurance that industry knows where the oil price will be in the coming years.

Each to their own though. If you are worried about oil price futures then it may change your appetite. However; it does not change the fundamentals.