Telsor, Cannot argue...we seem to have a real problem with our...

Telsor,

Cannot argue...we seem to have a real problem with our timelines.

As dr. Golf often says this is the Oil business.

Off subject but what could we do when the govt changed and we got hit with the new environmental impact study - 12 months just went missing from our timelines through no fault of our own. God knows the Labor Party have done a stirling job since that point with everyhting else in the economy!!

i actually think a little the opposite with reference to your point 'no -one to lean on' - i think management have done a great job securing the rig before a JV partner - having the cash in the Bank and saying to suitors...our way or the highway we'll drill ourselves.

They have the expertise on staff now...i mean every second bloke on Brazillian team is ex PBL for God's sake!!



I believe however they have handled this brilliantly..... remember also we attempted to do a float in the worse market...they called our bluff then thinking we had to take what was offered per bbl - think it was $2 bboe in situ and Oil was at that stage around $70 and they were told to go and get stuffed. We were able to do that in the worse of economic times telsor which i think is a point we forget a little too easily.

You look at that position now and say ......master stroke.... i think we will say the same about how he has handled the pending JV....much easier to negotiate when we are a desperatley wanted commodity.

Be mindful these are shallow holes so drill times are nowhere near like what we experience in BROWSE.
And the rig is ours for the 3 hole campaing locked and loaded...we may be doing the dance again right now with the suitors but i reckon the aces are held this time by Robert Hoskin