Should be 81c (at least), page-10

Not sure if  u'd get an Insto to assign true value to a Unrisked prospect, given that there r no commercial projects offshore Morocco. Sorry KFann, but u should always factor in a CoS, ie 18% for MZ-1. I think its 30% for T#1, which will b assessed after results from MZ-1. The mkt is much wiser after TPT saga (noticed MEv got roped to run that now).

Once a discovery is made, u still need to multiply by a risk factor, known as CoD, ie chance of Development.
This could b betwn 40-75% depending on various other factors.

So, is MZ#1 the first commercial offshore discovery that Morocco so badly needs ?

Give it 4 weeks, once they get the indications from the MWD tool & gas chromatograph for shows etc in the top play followed by the Aptian etc.

I believe Kosmos need the rig back in late Q3 to drill the Southern extension of Tortoise discovery in Senegal, which was covered by 3Dseis completed in January. So not sure if T#1 will follow MZ1 straightaway.

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'Vienna Calling' ... the big boys from OPEC meet on Fri-5th & throw a 2 day seminar at the Hofburg Palace on 3rd & 4th of June, should explain the volatility with oil price this week.