strategy, page-2

Not sure i would say management selling good assets. i would say management have been selling non core assets they clearly now have a focus on service contracts that they can develop and get production out of. Looked as though they had drilled all they really could in the turkey block so not much more upside their and the offshore portion of sc 51 hadnt received any farm in offers so better to give it to someone else than waste money simply holing it. Remember the offshore drill had a ~20% pos on 3d seismic nothing to really write home about. The interesting play appears to be lampos which on 2d has a 14% pos which they are hoping to increase with 3d seismic over the region. The company is clearly placing itself in a financial position where it will have the funds available to pursue a drill in sc 55 even if bhp do not farm in. They must have some very promising seismic as you mention to shift the entire focus to 2 service contracts.