be warned!, page-21

re: market manipulation 101 As far as I am concerned, China write off will need to be 100%.

But as pointed out above, it is a 'sunk cost' (ie they have already spent the money), so it is not going to make any difference going forward. The only catch is that will have to write it off through the books, but this is so well flagged that it should nto surprise anyof us, after all the China drillings were a failure and everyone knows that.