big picture is the drilling of pep 11, page-2

bello,

I had a good look into this on the weekend. I doubt very much that there is any commercial quantities of gas or oil within 20km of the coast. Tell me where on the planet is there a commercial gas or oil producing undertaking in shallow water within 20km of the coast where there isn't any commercial gas or oil production adjacent onshore. I couldn't find any examples. Way out at sea maybe, but just 20km and with 130 wells drilled onshore and nothing much to show for it you would have to say your chances are very, very slim indeed.

What you have here is a company driven ramp and why not take advantage of it. The sp may well continue to rise but eventually it will collapse. Anyway, I believe they only have until November to prove it or disprove it.