Groucho,There is risk in everything one does. With Nen,...

Groucho,

There is risk in everything one does.

With Nen, originally the inherent risk on block 105 was high however, the residual risk for 105 in particular has been mitigated so far that I am of the view it could not be mitigated any further. I am very confident that given the information available Nen will find a commercial gas field in block 105. However, even with the best mitigation a risk always remains as it does with 105.

Block 120 is a different story altogether, we know there is oil there, what will be defined with 120 is how much is there along with any gas?

Is there a risk, yes. Is it high risk such as PPP not by a country mile.

Will I be drinking red wine in the South of France, yes. All that remains is the value of the red or chablis I will be drinking.