see wpl webcast - confidence building, page-9

Cornelius,

I watched the webcast upon your recommendation, quite interesting...

Quite a bit of BS actually...

Blacktip, was canned because Alcan decided to go with the PNG pipe line instead. WPL was then left without a customer, so the economics of the project became irrelevant! The truth is that WPL messed up in the negotiation process...

On Chinguetti, I don't think the performance of WPL in taking 5 years to commercialised is particularly brilliant as pointed out by other posters. Imagine if they could have done it in four instead, the positive financial impact would have been great.

On Tiof, I thought that Voelte let the cat oot the bag when he said when he said that it would cost 2 billion to develop. I think that WPL doesn't want to take the risk at 55% equity and are looking at farming out a proportion...

There arguement that it is complicated and compartementalise is weak. It is a big field and even if compartementalised by faults can be quite economic. remember that Chiguetti is much smaller and has three distinct compartments separated by two faults.