see wpl webcast - confidence building, page-5

Cornelius
Oh yeah...thanks

In relation to Tiof, the remarks were a bit ambiguous insofar as likely development is concerned. However, what was clear to me is that the complexity with the reservoir does make the refinement of reserve potential/economics key to the development plan.

While Voelte used the example of Blacktip where the project was canned due to economics, my read was that for Tiof there will be another appraisal and more study before committing to a phased project. The main fear was that the idea of committing to develop the whole field at a cost of circa $2bn is inappropriate given reservoir characteristics. i am still suspicious that the review is also related to there own capex limitations.

regards
DF