Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Erik Mielke – Bank of America Merrill Lynch.
Erik Mielke – Bank of America Merrill Lynch
My first question relates to Malaysia where you have some old blocks, exploration blocks, Block L and Block M that you haven’t been able to drill for several years because of the border dispute between Malaysia and Brunei. There was reports in March that that dispute had been resolved and had moved to technical committee. Can you give us an update on where you are with that and what time line you see and what you expect to get out from that whole negotiation process.
David M. Wood
I don’t regard them as old blocks, I think they’re current blocks in our inventory. What has been said in the press is that there has been a resolution between the two countries, I think that has been reported several times and in several different ways. We’re hopeful that that will resolve to a point where we can get back to work. I don’t have a time line for that. We like the acreage, we’ve clearly been a very active explorer offshore [Sabah] and are looking forward to getting back to work.
Erik Mielke – Bank of America Merrill Lynch
But nothing specific in terms of time line, whether this is a 2009 event or more 2011, 2012?
David M. Wood
I don’t have a time line better than what I said Erik.
Erik Mielke – Bank of America Merrill Lynch
Staying with the region, you mentioned that you are about to spud a well in Malaysia. Can you give us a bit more detail on what you are targeting and potential timing on announcement?
David M. Wood
Yes, the well is called [Seacap] North. Back in 2004 we drilled a well, this is outboard of Kikeh so it’s in the southern part of the old Block K and we found some oil but we didn’t find as much pay as Kikeh. We have targeted an up dip fault component to that feature with this well that we’re going to drill and it offsets on the same structural trend a discovery that was announced not too long ago by the parties in the adjoining block. So, we’re going to spud that well here within the next couple of weeks or so and it’s about a 30 day well so that’s the time line.
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