oh bugger !, page-8

re: oh bugger ! gas agreement ?? The main problem with reaching a gas agreement is that the gov't knows there is definitely gas. This will be different to the original oil agreements which were finalised before the exploration program. This time the gov't will demand a larger share of the cake or want a different structure of agreement where the current JV is the "Contractor" for the the Gov't. If is getting "good" advice this will be similar to agreements in Algeria and the Middle East. These are still profitable for the Operators, but not as good as the current oil production agreements.

WPL being involved in Algeria and Libya will already have experience with these agreements.