Madam, - The Irish Offshore Operators' Association stated in its response to Fintan O'Toole's article that the Corrib gas field is worth a mere €2 billion to Shell, and, of course, the company would have to further deduct the costs of developing the wells.
Wasn't it rather silly then for Shell to pay €3.5 billion for the takeover of the company which owns the Corrib gas fields? The Wood McKenzie 2002 review is exactly what Mr Cahill says it is, an estimate of value. It appears that nobody but Shell knows how big the Corrib gas resources are. Fintan O'Toole's estimate is as good as anybody else's until we know the facts. - Yours, etc.,
MONICA MULLER, Ballina, Co Mayo.