In December 2007, we closed the deal to purchase a majority stake in the Balmoral Floating Prodcution Vessel (FPV). The purchase gives us control of the FPV and will allow us to exploit stranded assets in the region that we call the "Balmoral Processing Hub".  Additionally, the Hub will allow us to process more bbls/d of oil thereby keeping our per barrel operating costs low.  We anticipate that additional development drilling will occur in this region that will result in increased production. 

The Balmoral FPV is currently located in Block 16/21 and processes all the oil produced by our Brenda, Nicol, Balmoral, Stirling and Glamis fields.