re kik announcement out, page-54

Well said DJ1 and Galileo...Snake, you really should peruse all the co. ann's re Galoc and the shallows again...carefully!

For starters, just look at how they intend to produce the oil from the shallows...everything is in order (except a really good price/bbl).

IMC have an option to take 20% of the shallows off KIK (as well as the deeps)...but lets say there is a better offer out there...how would KIK know if they didn't advertise. KIK don't have any production income (or income period) to put toward the EWT (production) of the shallows discoveries (or the deeps), so they need to be fund assisted or carried...is it a bit clearer now?

As for oil reaching $25/bbl!!!
Here are the breakeven prices as at 5 Jan 08 for a bbl from some of the worlds producers...

Nation US$/Barrel
Bahrain 40
Kuwait 17
Saudi Arabia 30
U.A.E. 25
Oman 40
Qatar 30
Canada's oil sands 33

So Kuwait would be the only country making a profit, the UAE would be giving it away for nothing, and the rest would be selling at a loss...how long does anyone expect this could go on for??!!