(;
AB[en][fo][go][ho][io][dp][dq][ep][ip][hq][hr][fs]
AW[jo][jp][jq][fp][gp][hp][eq][fq][iq][gr][gs]
C[Black plays.]
(;
B[dr]
C[A big point and sente against the stones to the right, but ...];
W[ir]
C[... for example, White is happy to save all the stones.]
)
    (;
    B[hs]
    C[Too slow.];
    W[es]
    C[White can now create inside liberties.];
    B[er];W[fr];B[dr];W[ir]
    C[White wins the semeai.]
    )
    (;
    B[er]
    C[Reducing the liberties from this direction is correct.];
    W[fr];B[ds]
    C[Ko.  White takes first, but this ko is heavy for White.]
    )
)

