number of shares, page-15

p1000.

The finding costs for Y & T might run out to around $5.60/bbl + seismic, but the development costs are going to run it out to a lot more, depending how they do it....I heard a from the horses mouth figure of "1mmbbls and then we're in the money"...not a big thing with only 2.5mmbls recoverable at say 30% mid case...may get more, but even at 50%, just over 4mmbbls over 20yrs is nothing to crow about! Granted there are more pinnacles out there, but what is the timeframe?

"well there has been articles quoting senior PNOC officials as saying that Shell and BHPB are interested in SC63 - and it is deep water"...so is SC55 where BHPB have already signed a HOA.

"interest in the shallow water should be even stronger"...why? If it was, surely we would have had some press leakage on it...we have had on SC63, and that is going to require multiple party negotiations.
There are two deep water blocks out there...one is already potentially farmed on a HOA, and the other according to the press is the subject of two majors bidding...you need to ask yourself why...perhaps the proximity to Malampaya and Galoc is not the proximity they are seeking.

This is penned to encourage objectiveness rather than defensiveness...nothing is fact until post case, especially in this game.