Ann: Quarterly Report - December 2010 , page-5

At 60 and 80 cents cvn were a very speculitive strong buy on the basis of the unknown, very consistent high flow rates at nse, potential reserves at the promising, but non delivery at bo rang,the unexplored na sanun, and other high potential areas.Then, when looking at a the excitement raised by the joint venture at wbext and l/33(the potential of 10s of mmbbls), we are once again scratchting around for the next big find.
At the previous highs, the joint venture and the analysts were focusing us on the ease of 15000+bopd,almost three years later having only briefly obtained that target, the joy of a consistent 10000 bopd would be satisfying.
These previous highs will struggle to be reached, without confidence of consistency, and the joint ventures promises year in year out not being met.