I find the latest TO offer for Santos very interesting. From what I have gleened from the news, STO has been valued at $13.5 bn. I further understand that this price is based on $US 70/bbl, and having tried to convert this into an equivallent bbl of oil reserve, I come up with something like 190 million barrels, which by all indications at the moment is much less than FARs prospective reserves in West Africa. And I have not tried to mess with the AU/US dollar equivalents.
I know, of course, that there is still a big difference in the maturity and certainties of the two reserves, but it does give me something to think about with regards to the potential value of FAR a few more years down the track.
Any thoughts on this?
Guinea Bissau, page-11
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