Stapleman, I imagine they were err toward the historic 11% but perhaps with an adjustment for horizontal wells.
Going back 2-3 years, Solimar in their presentations regarding Paloma went with the 11% but showed upside to 25% based on modern methods etc.
Given they are considering a farm down of Paloma we really want the recovery figure to be as high as certifiably possible to maximise value from the new partner.
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