No the numbers work.
800,000,000 barrels times 35% = 280,000,000 barrels.
Total sale cost from COP = USD 430,000,000
So cost per barrel is USD 430,000,000 divided by 280,000,000 barrels = USD 1.54
WPL purchase price assuming upgrade to 2C 800 million barrels is USD 1.54
Actual value of in ground oil is USD 5.00 so profit for WPL is USD 5 minus 1.54 = USD 3.46 per barrel time 280,000, 000 barrels = USD 970 million.
WPL is dreaming if they think CNE will not pre-empt!!
IT all comes down to CNE, page-110
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