Closest to the Pins, page-21

Good background info re Cove Slugga, it would be fabulous to think the SP would match the Cove sale price at a bit north of $4:

In August 2012, Cove was sold to PTTEP for £1.2 billion (£2.40 per share). The stock’s unparalleled return on investment (in excess of £1 billion value creation in three years) made Cove one of 2012’s most prominent public takeovers worldwide.

As our Central American friend @The Guatemalan has pointed out with 4.6B shares on offer, a market cap over $1 per share is getting up there, but should be an aspirational and eventually achieveable target with resource proved up - the Auruora example (thanks @ponyboy) provides the basis for this.

From the Auruora case study:

The Aurora sale came in at around $2.4Bn with 1P reserves of 122MBOE. If 88e can prove up say 60% of the 431MMbbl = 260MMBOE of 1P, at current PO $44.87, the 88e sale price may go close to $4.6Bn, or around $1.00ps - Happy days!

Back to the present, and given it is early days in resource estimation, and the essentially derisked wildcatting being done with IW#2 in a play this massive, my bid for the IW#2 outcome is:

Flowrate = 166 BPD
SP Spike = 22c
SP Settled = 14c

Note that this is Post #88 for me, so this crystal ball will not lie. IMO DYOR