re: shell, page-31

re: shell This is just a different take on this, and I could very well be wrong and am happy to be corrected.

In my view, it is better than Shell said no now, rather than exercise the option and because of other exploration, operations, commitments within Shell they could not commit to a exploration well within the two years in which they were bound to by the contract, then the situation would be exactly as it is today, FAR retains 90%, keeps ownership of the CSEM, and looking for another partner.
I dont think i could stand the suspense for another two years.
Obviously yes would have been better, but there may have still been doubt as to whether Shell would have gone ahead.
Maybe Shell only did the CSEM at the fans to establish how big the return would be, knowing already what FAR had discovered through their testing, and therefore to establish whether there might be a case to reprioritize their drilling program if the CSEM proved a lot bigger reserves.

And 65 million dollars is still 65 million dollars in anyone's books.

Anyway, just pure conjecture on my part.