The Browse Basin is located off the northwest coast of Australia and is one of the most isolated of the Australian basins. Water depths are generally less than 1,000 metres, but can exceed 3,000 metres. To date, much of the exploration has concentrated on the shelf area, and we expect this gas-prone play to provide the majority of the future volumes. Value can be created in the play under our Base and High price assumptions. Only three wells have been drilled in the deepwater play since 2008 and we expect this modest level of drilling to continue. The higher costs and modest yet-to-find resources mean that we do not expect value to be created here, even under our High price assumption.