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Email proves Walter van de Vijver warned Philip Watts about ‘aggressive’ reserves bookings in August 2002

By John Donovan

Shell internal email correspondence proves Walter van de Vijver, Chief Executive of Shell EP, warned Philip Watts about “aggressive” reserves bookings and other matters in August 2002:

Walter van de Vijver to Phil Watts:

“I feel strongly that we should stop talking to analysts about things we have not delivered yet…”:

“With aggressive historical proved reserves booking, massive investment in Nigeria with increasing risks, few material discoveries, ROACE pressures, we just need to be very careful.”

Exhibit 185:

http://www.shellnews.net/classactiondocs/ex185_447.pdf

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