Ann: AWE's Asia Roadshow Presentation, page-6

db
Firstly I think your calcs are wrong because you assume AAL is farmed down but you omit the funds that would be received from selling 25% . Average multiple is about 8 usd per 2 p reserve barrel in recent times This could raise 80-100USD
Secondly you ignore cash flow from existing production , as well as increases in revenue from gas price increaeses from recontracting - this could fund watsia
Thirdly you assume Watsia development is not staged , which of course isn't the case , revenue from initial phase can help fund later stages
So your 235 m requirement is not accurate . Some will come from farm down , probably 40% , and the rest could be funded by cash flow. Furthermore I imagine even if a project like aal neeeded finance, it would be easy and involve project finance and a hedging of the first couple of years of production.
So I don't see any large funding issues .