re: Ann: Speculation Regarding Israeli Petrol... What's riskier than Timor or Browse? Partnering with several companies in Korea, Myanmar, Israel & Spain goes to a long way to delineating risk.
I also think that Shell is not really an issue. It's clear that when they are ready to sell (which is not anywhere near this price), that their parcels will be offloaded to institutions and companies like Hess or other new partners.
The other big issue and reason WPL is planning to move offshore is cost. Australia has simply gotten far to expensive. Labour, government loyalty and equipment can be bought at pennies in most of the world, including Europe.
See pic below. What stands out?COST OF LIVING INDEX
Ann: Speculation Regarding Israeli Petroleum Lice, page-10
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