pel-218 update , page-22

Hi oscar,

"PEP 11 is located on door step of 5million + people with ready and available infrastructure. From exploration to discover and then to production will me much faster for PEP 11 than Artemis."

I would probably agree with everything you have said in your reply to *yuyu*., however would add that Artemis is located adjacent to a Chevron & a Woodside (soon to be) producing location where infrastructure is also available for export rather than domestic consumption. I would therefore dispute that PEP-11 would necessarily be faster from exploration to discovery to production than Artemis.

I also think that Artemis have a far greater understanding (from Seismics etc) of what is potentially 'down there'. Everything else I am totally ok with.

I will be looking to re-enter BUY again some time around exploratory drilling on PEP-11 which is flagged for some time in the 1st half of 2010.

Just my 2 cents worth anyways!

Cheers, Pie (: