joint letter to shareholders, page-37

Assuming the appraisal wells confirm KAR share of the 2 oilfields at 100 millons barrels, all good, but the POO is stuck at $45 a barrel.
Will the development go ahead, I don't think so. (ha ha all eggs in one basket)

Are you prepare to subsidise (loss) of $5 to 10 for every barrel of oil you pump out of the ground ? I guess NO, NO, NO. What happen if the POO drop to $30 or $25 per barrel.

I will be dancing on the street if the POO is at $70 per barrel -- 100 million x ( $70 less $ 50 production cost) = $$2,000 million PROFIT over the life of the oil field . And the KAR share price will be north of $10 , but based on current head wind on POO, I am only dreaming, only dreaming, only dreaming, wake up and get a grip SON.