Avoca,I agree with your analysis. For the gas aspect, I note...

Avoca,

I agree with your analysis.

For the gas aspect, I note that Gas de France is active in Algeria. Commercialising gas in Mauritania through LNG does not make much sense, much better a pipe line to Europe which is not that far. Big market dependant increasingly on Russia gas and looking hard for alternatives. However the problem is that a pipe line would have to go through Algeria which has a lot of gas of its own which is currently not commercialised...

Now the involvement of Gas de France in Mauritania and Algeria might mean something on that front... the plot thickens indeed...

I agree with you that this is long term stuff however...