"“We have made an important discovery of natural gas and we have an understanding of the potential of the block,” co-chairman Robert Friedland said in a statement.
“However, this opportunity arose at an appropriate decision point and we have opted to focus our energy and resources on the commercialization of our Heavy-to-Light heavy oil upgrading process and the development of our attractive oil projects.”"
Look like IE will JV with Shell and China to develop multi billion dollars oil project. I have followed him for years, he won't waste time on chicken little, always record setting big ones.