met with ms, page-28

mattyr...

In short, I think the greatest attraction is that one would not be focussed on exploration...although this too will come...but initially on development.

This is the quickest path to income...the Gegonha-1 (135mmbls) and Pardal-1 (12mmbls) discoveries are virtually waiting for development.

But...the prospectivity of the rest of the block is extremely high, with only 8 wells drilled rather sparsely, especially with new 3d seismic available.

We also get the highest percentage given Falcon have 10% of this and only 5% of the others.

Of course there is always block 33...on trend from the numerous discoveries in 31 and 32...and likey to host monsters.

Falcon have 10% of block 33, so I am surprised Smyth has not mentioned it.

Perhaps this is being left as the icing on the cake?

Cheers!