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We are progressing development of the Ettrick field and we expect it on stream in the second half of 2008. Development includes three subsea production wells and one water injector tied back to a leased floating production, storage and off-loading vessel (FPSO). The FPSO is designed to handle 30,000 bbls/d of oil, 35 mmcf/d of gas and to re-inject 55,000 bbls/d of water. Construction of the FPSO is nearly complete and sea trials are expected to commence mid year. Our share of full-cycle development costs is estimated at $460 million. We operate Ettrick with an 80% working interest.
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