Congratulations, page-46

Sector Lead,

They lost millions by not taking the earlier deal.

This deal is less valuable than the $300M one, when you include the extra $26M that was spent when it didn't need to be. You really think NS & BS are worth over $166M, I don't, they allowed a whole host of BS leases to lapse, so they don't exactly rate them

You wan't to buy carry on, you won't get me buying it.

Yep the Breitburn shares have a nice yield at the moment, only the oil price is falling and by the time Antares drill a couple of wells there will be no cash left in the bank, so they'll need to start selling the Breitburn shares to fund new drilling, Don't forget they have $6M to pay in interest on the loan notes.

Simon, yes your AZZG will give you a nice yield for the next 9 months after that I'd be wary, I think they are being set-up so that on the reset Antares changes the term dramatically again.

LOTM