bazzard funding

Tino's numbers never really added up on how STU was going to fund Bazzard, unless they borrowed a big chunk of cash against their CB reserves.
That would leave STU in pretty bad shape if Bazzard failed.

However, with Tapis approaching $125/brl, and looking strong for 2008, STU's cash accumulation could surprise on the upside leading up to Bazzard spud.

MOG arguably provides better leverage and the sp will probably take a hit when they inevitably raise cash prior to Bazzard spud.

MOG one for the watchlist in 2H 2008 but cant see any point in holding it now.