Cath update, page-25

I emailed Angelique about Cath's statement in the update that we have 5 Billion Barrels in Place at SNE ... so why only 500 mbbls being claimed thus far by Cairn?  That's a 10% recovery factor only.  And I asked when we might see updated numbers from RISC or the JV.  Her reply:

"Yes, that is correct that Cath mentioned there is just under 5 billion barrels of oil in place at SNE and I believe on average recovery factors are around 15% now. We do not have a timetable of when further information will be released and we will be guided by the Operator. Cairn had indicated they would look to putting out some numbers on approval of the development plan."

You wonder just when Cairn are going to choose to talk up SNE asopposed to being very conservative with what they say and present to the government??  Even applying the 15%recovery that's 750mbbl.

H