Hi Strat
I've assumed $35/bbl (currently its closed at US$44/bbl) as a flat rate for the year. It could bounce up real quick by mid-year or later in '09. So going by the scenario NDO should still generate higher revenue, IMO.
As for downtime, agree its been a pain, comes with the location. Choppy sea waters, umblical problems etc
Should they have a trouble free prodn run from the 25th Feb-31st March, which is 35 days this quarter, they'll still generate some revenue, rather then nothing.
2-3 lifts, perhaps, will do in Q1-09, to keep the cash tricking in.
cheers
nido have learnt a very valuable lesson, page-8
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