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specbidder

05/25/06 12:17 PM

#6971 RE: rebbry #6945

Rebbry i think you right. However we do need more clarification on North Wests proven and probable reserves of oil and gas. The interesting point is that Nord expects to produce 2.5 million barrels this year and they haven't started pumping yet,whereas North West has but we don't know what amount they have in mind for the year. I think North West only recently got their oil assets after tender,so the future production levels could be far more more then a million barrels a year they are quoting at present.
Jsut on a logic basis we know Nord expected to pump 2.5 million barrels for this year alone,so that indicates me that the reserves value given in the PR for the combined entity is not telling the whole story.