If I had spare $1.5 billion+ would I give that away in exchange for one fifth share in an oil field with current falling production with no firm plans for further development in the area by WPL and half share in an Uganda block that looks to bring in money from 2009 onwards. Both these will need financing over and above the takeover sum during the next two years. Oh yes and you can have Guyane nobody knows for sure if there is anything worthwhile there yet could turnout to be another Mauritania
Tullow are speculating and good luck to them. Right now it looks either very brave(Uganda) or foolhardy(Mauritania & Guyane) at the price they are prepared to pay. Forget the Falklands for a decade
I shall watch the outcome with interest
regards
HDR Price at posting:
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