CV
That's it! Why didn't I think of that. One big field with great economics .... what a dream. Hopefully the waking reality will not be disimilar.
PJ
Maybe the hedging was not as simple as Mr H detailed but I would hazard a guess that there are still punters out there expecting TONY's vicious J curve recovery in POO to >US$100 ... so forward positions at US$60 would be profitable! I think that the point is that in 3-6-12-18 months or whenever we see DOC and then later FID its very likley POO will be higher and FAR will be able to hedge even higher to lock in cash flow.
H
Rig Move, page-25
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