Ann: Ophir Drilling Plans, page-6

I expect that Petronas will buy out the Ophir contracts, the capex has come in so far under original modelling that I suspect this is looking like a gold mine for the Ophir partners at present. Petronas will no doubt wait until the drilling is done so the last risks are removed and then exercise the call option on the jv. It will give OXX about 16c a share in cash I expect although the flip side possibility is for them to take over OXX itself. GA is quite elderly so he may be open to cashing in. Either way, we would get circa 20c with the other assets (unless Ascalon gets a deal then much higher figure). Will be happy either way. GLTA.