Money Talks, page-88

I think you guys are getting too hung up about Apache's strategic changes.

There business units such as in WA still have a job to do, to drive maximum value out of their assets, regardless of what the parent company is going to do, and that naturally means you take up your optional rights if your drill comes up with oil, and it also means expediting follow up exploration.

It would not of course include expecting parent commitment for large capex such as LNG plants, but I would expect it to include modest quick payback investments like FPSO based oil field developments.

Apache is refocusing geographically and on that count interests in PS will be sold at some stage, but in other respects this is the type of stuff Apache is focusing on, where their upstream skills can be applied without huge capex.

I would hope to see interests in PS sold together with the main WA operations, as it is those skills we need and should value, not those from the USA.

EL