Interresting developments here, and possible ops...or not..There...

Interresting developments here, and possible ops...or not..

There are 2 comments pointed out which may, in hind sight, alude to Shells preference for other areas/other projects.

1 is "We continued to make further progress on our portfolio rationalisation program in 2008" and gos on to talk about selling several prospects, including 2 in Nigeria, where they seem to have had many difficulties.

2 is "Exploration and development strategy" as per the report" Our portfolio has four themes: sustaining our heartlands, core countries that have the infrastructure, expertise and remaining growth potential we need, focusing on new oil and gas projects where technology is a differentiator; building integrated gas opportunities and continuing to unlock unconventional oil and gas resources."

Now, seeing as their profit was significantly down from the year before and clearly they have been affected by short term economic factors (they clearly state this aswell), it would seem Senegal is not a "core country", nor would it have infrastructure and expertise that impresses, and nor would they stand out in the field of Technological advances. Yes, Sheell might still have a go if the tests prove a "mother of all pay outs", but otherwise, why would they go against all their strategies on a small to medium size find? They can easily stick to their plans, and buy it up later when ever they feel like it.

So, the point is, there are still possibilities here, though ofcourse no one will know until the report is out or someone drills.

I for one, will be watching to see happens.
Good luck