Brenden,Thats a big punt on Moby-1. If Moby-1 doesnt come in,...

Brenden,

Thats a big punt on Moby-1. If Moby-1 doesnt come in, MOG are going to have very little in the tin for more offshore drilling.

Look at what happened to Roma and Oilex after Connolly missed ... Roma were getting carried, and stayed about where they were. Oilex were paying in, and they got crunched.

I can easily see Moby coming in as a small gas field and MOG not hitting 30 cents. Infrastructure aint cheap for offshore gas, and if they come in at closer to the P90 than the P50 number, then the economics of Moby-1 are going to be ... interesting.

It's much safer to be in the carried partner in high-risk drilling.

Ian Whitchurch