Ann: PEP11 Option Update, page-54

Well I think they've proved taking on an offshore program as a minnow is challenging and locks up all your cash for cheaper onshore activities, I mean California is only surpassed by Europe for Gas I'd say. I understand the reward side of it getting nido for a dollar Gary Jeffries could write a follow up book to the art of the deal to swoop in with Joanne get that as a tax write off for bangchak and whittle away all the hangers on to get it drill ready with a coalition of the willing etc is remarkable. They also have a very good friend in Ilyas Chaudray to back up their strategy there was no way for them to drill offshore easily without risk of delays blue sky has the funds to do it but it's still a big step change even for them. Offshore is big boy world.

However, time and tide wait for no man or woman to be politically correct and they've essentially had borba and California on ice for 2 years now. So they need to make it up aggressively hopefully for themselves and shareholders who've hung around in the doldrums with them.