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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