q, sorry didn't see your post earlier. Ok, again, its going to be a big guess. Still, I'd like to give a bit of context here and will be just my opinion. If macro conditions are good enough (not like on Friday where NASDAQ fell 2% and DOW Jones went up by 1% which last happened during Tech bubble and I hope the Quantitative Easing policies of FED bank is not taking us into recession or an imminent crash shortly) and oil prices are steady and if the flow rates are in the range of
i) 250-300 bopd - 60c. (highest probability of flow rates is in this range IMO).
ii) 125-150 bopd - 30c. (conservative)
iii) 100-150 bopd - 25c. (ultra conservative)
I think lots of shareholders will not be happy with ii) and iii) and as per Dave in one of his earlier London presentation, he did mention if I remember correctly, that they did get a low ball park TO / Farm in / Farm out offer which was rejected straight away. I'm not sure why that wasn't announced to the market. But, anyways, more we prove and make it more derisked, our chances to bargain increases. I think flow rate (and most importantly the measure of flow) is so important for it to have a chance of higher TO offer.
Again just my opinion and there are many well known experts here who know much more than me. GLTAH. Cheers, Notty.
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