Fan South -1 thoughts, page-8

H, atleast thats what their slide-25 from the AGM presentation is indicating. Deeper target will b interesting if its HC bearing. Do chk the map of the same lead by AfrPetr.

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OOO,
I am aware of the reporting protocols& realtime feed, being there done that

At the conf. did anyone from the Analyst fraternity ask CN about Slide-24 which shows the number of wells planned for Phase-1 (by FAR??).

AS per it, SNE2 will b a gas injector whilst there will b 13 other new drills (incl 7 producers & 6 Wtr Injctrs).

What's the budget for this phase-1 program ? USD5bil (excluding abandonment), as that would b full field dev costs as per Cairn.

A recent smaller field was brought online to the south in August 2016 & it cost USD4.95bil with 10-11 wells, leased FPSO. So I guess that's what FAR r also alluding too albiet with a higher 1C. Was there an indication of the brkdown betwn 400 & 500 series for the 1C & 2C (80-20 or 70-30%) ? Surely Bell Potter should have raised this point if Peter was present.

When u get a chance, could u pls go thro' yr notes/tapes & revisit this particular slide-24.

The numbers etc on this slide are as per Cairn. The 1C of 349 mmbbls (which exceeds the MEFS of 200) is FAR's estimate as per RISC. Total costs is what I want to know & how they plan to get there with funding, unless they plan on cashing out the chips & focusing elsewhere!!
Thanks.