Replies to post #79128 on Biotech Values

[DewDiligence]

[OT] HES: Thanks, Charlie, for your reply. I’m still not clear on how Jim Hackett, the CEO of APC (not HES), would know enough about this incident to talk about it on a webcast last week. APC is not a participant in the BM-S-22 project, although it does have exploration projects elsewhere in the Santos basin. Regards, Dew

p.s. I just saw a current Bank of America report on HES in which the analyst essentially agrees with your comments. However, the BofA analyst does conclude that the Guarani well is “not an unmitigated success” because an ANP has not been filed. He notes that an ANP must be filed within 72 hours of finding hydrocarbons even if the testing is not yet completed.