Reduced production has been telegraphed by NCM and has been factored in well and truly.
Good news will be that Apache gas is coming back on stream much ealier than expected.
Expect significant reserves / resources upgrade and positive news on the NCM / Harmony J/V in New Guinea.
The worst is behind NCM -- expecting a huge improvement when NCM makes its annual report in 2009.
It's just a waiting game.
annual report out on 15th, page-2
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