on 2p reserves alone its a joke, page-3

Prefer he asked us for money. A one for 4 rights issue at $4.50 tommorrow, hehehe. Thanks Shell for boosting our sp, and making our shareholders more generous.

That would bring in $900mm. Add Shell plus current cash and we might only need to borrow $600mm or so, less with export agency finance, and/or pipeline sale and leaseback, bonds or whatever. Once the first train is producing we could leverage higher, and probably never dip into our pockets again.

We shouldn't be looking at $6, or even $8 now, unless you can tell me where else I can buy a future WPL now for a tenth of it's longterm potential value.

What will you instead have in ten years? A rag tag army of BUL,VPE,MEL,COI etc.

I don't care that much what today's 3P is. It's what will be 2P in ten years time that's much more important. My guess being in the vicinity of 20 tcf net. Important as our production will be in ten years, also important will be the rate at which we are then still growing that, as we will still be striving to lower our reserves ratio off a bigger base.

Nothing like rapid prolonged exponential growth with a high ROCE to generate shareholder wealth.

EL