Ann: Strategic Review, page-5

Not much of a fight if they are prepared to sell Manora to the Thais, to possibly save themselves.

So what price is Manora valued at? They need around $4.50 a barrel to wipe the debt from my very rough calculations. That would not leave much of a dividend. And could they get that figure in the present oil climate?

Have to think about this a bit more, but don't see too much shareholder value at this time with the strategy.