cat got your tongues..., page-24

re: re:continued support - some numbers I'd like to correct a statement in my earlier post 1016860 where I said ''I guess Vitol haven't put up $60 odd million for naught, and they are international experts in the oil business" by quoting the figures give in the Ambrian Brokers report page 3 .
"Galoc has been remapped using modern 3D data and more recent well
control, which has highlighted the fact that initial drilling missed the
crest of the structure (attic oil). Ignoring the value impact of any attic
oil, we believe that this development has an NAV(10) of $87m, or A$120m,
for minimum fiscal risk – Vitol, Team Oil and Cape Energy, who
collectively are paying approximately $48m of the development’s
anticipated total spend of $61m."
My apologies for the misrepresentation, I was relying on a faulty memory. cheers