Ann: Half Year Results Commentary , page-19

Worth listening to the Webcast if anyone hasn't yet.

With respect to NIBD, in the Webcast it is stated that the target range is between 1 and 2 times EBITDA which fits with Camden's comments but John specifically mentioned a preference to be closer to 1. Dividends are not far away but they are rightly conservative.

Basically everything is on track as far as I am concerned. I was particularly interested in the targeted improvement in margins for Geosciences. In my opinion we have a very correctly focused CEO.