Management was in the Netherlands last month. No one is certain if
they were in discussions with Shell but it certainly is coincidental
given the recent data that would have been available for discussion
and in light of the recent completion of the last well and the DST
report that was being prepared during that visit. There is speculation
that Shell is interested in the Corvina/Albacora etal leases of Peru.
I do not think it is idle rumor. It is apparent that this company has
both substantial oil and gas reserves off the coast and in relatively
shallow waters. Shell would be a logical suitor of BPZ or at the very
least, a joint venture partner.