Thats a pretty big call Bigal......1-2 years for oil to...

Thats a pretty big call Bigal......1-2 years for oil to bounce....meanwhile down tools at the Ark everyone...

IMHO the Ark isnt meant to be a drill and immediate sell/JV...its more likely to be a drill, improve understanding, add value.That then leads to better negotiating power....maybe a longer term project than you give it credit.

I think you are right on the survival mode with all the rest though... and I think that seems to be what they are doing. But as usual we will have to wait and see...because we definitely aren't getting updates on the austerity measures.

On the oil bounce thingo....its a whole different world nowadays to the previous oil dips... the markets do tend to swing/gyrate more viciously these days... I wouldn't be surprised that when the political objectives of this latest dip are met that it could come back quite quickly...