Also Rob,onto of the $13 million working capital Petro has, BKP...

Also Rob,

onto of the $13 million working capital Petro has, BKP contributes 25% of the frac costs for Mac 2.

Also correct me if I am wrong but has'nt Statoil already commited to spending $25 million on Phase 1 exploration which we are in now.

So would'nt that make the funds available for completion of phase one at the moment $13 million (Petro) + $25 Million (Statoil) and 25% of frac cost for MAC 2 by BKP.

total funds for completion available from all sources should excees $38 million. Unless there is something stopping statoil from commitiing to the 25 million in spending but i can not see that mentioned anywhere.

For phase 1 my understanding is that statoil is commited to 25 million and if they chose to they can re imburse petro for the 25 million they have spent on phase 1 if statoil elects to par take in phase 2.

Please let me know your thoughts in relation to statoils contributions and if my understanding is correct. Thanks.

DYOR