OMR, I would have thought the development was marginal at $30...

OMR, I would have thought the development was marginal at $30 oil prices. But at current highs of $50 and a bullish outlook, it has to look much better.

If you have some back of the envelope calculations about why it wouldn't be profitable, can you share them?

At the moment, the best info we have from the JV is that they see it as likely to go ahead -- this from a recent ROC announcement:

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We would be somewhat surprised if the Wei-12-8 West Field didn’t proceed to production. China has an enormous thirst for oil and one of the State oil
companies is actively considering the development of other accumulations in areas adjacent to our field. Indeed, we’re in active discussions with the relevant
Government authorities in China with regard to this potential development which could also open up the way for the development of other fields in our block.
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