Question-and-Answer Session
Operator
(Operator Instructions)
Our first question comes from the line of Philip Dodge with the Stanford Group. Please go ahead.
Philip Dodge – Stanford Group
Could you go through the time table as you see it now on development of SASB Phase II taking into consideration the new ownership?
Nigel Lovett
This will not really, Phil, even if there is a deal that we accept and is successful, it will have no change or disruption on the overall timetable, again, our cash position is such that we could fund Phase II development out of the cash flow that we have off of Phase I. It is more of a strategic decisions on how we want to go forward, but this will cause absolutely no disruption or change to Phase II development which is again being operated by TPAO and we forecast again in late 2009 for gas from Phase II to becoming online.
Philip Dodge – Stanford Group
And has there been any change in the estimated costs, the 100% cost which I guess would be your share would be reduced by how much you sell?
Nigel Lovett
The 100% cost there is nothing that has come out since last year when we have our preliminary indications. We expect in April to have a TCM/OCM over in Ankara with all parties participating in which case any changes a positive or negative to the overall program will be discussed and put forth by again TPAO with the operator, but this time, there has been no indication from a timing or a capital expenditure side that there should be any changes.
Philip Dodge – Stanford Group
Alright, appreciate the information, thanks.
Operator
Operator
(Operator Instructions)
Our next question comes from the line of Ermi Bengledu with Trade Bank Securities. Please go ahead.
Ermi Bengledu – Trade Bank Securities
I had a question regarding the lease operating expenses. In the last conference call, you mentioned that the lease operating expense of $2.9 million was taken into consideration the maximum amount of lease operating expense from the Turkish operations, I am trying to understand why the lease operating expense went up to $4.3 million and if you can give me a break out of that number as far as how much of that number is coming from the Turkish operations and what the ongoing rate of this expense will be?
Charles Campisi
The answer to your question is for the Turkish operations due to the shipping accident that happened in November, we had additional operating cost of around $700,000.00 to $800,000.00 in repair work that was done on the Achaia line and there is an additional $700,000.00 to a million dollars, I cannot remember the exact number in work over cost for a work over program that we started in our French fields.
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