Had spoken to CN recently to clarify a question I asked at the AGM re: PE doc , I assumed that this contract clause would have been O & G SNE specific but it's not , it's a general clause used by all industries and importantly has been 'tested' so no need to unscramble the egg that's COPs problem ,It would appear a PE reset is the objective . Just waiting on the ICC to appoint the chairman which is close and this could apparently be resolved quickly . With big oilers backing us , CNOC and Petronas and the Admiral ,funding shouldn't be an issue .
FAR have a fig $4.50/ bbl 2C and $10 bbl US @ FID ,presumably that's what we're after so double what COP sold it for and this was based on conservative 17% RF CNE numbers , our 641 million bbls is approx 21% RF ,since then we have 3 successful wells and very importantly confirmed connectivity . The field has grown from 350 km2 to 590km2 , PESA interview with CN And Granger dec 17 , if you increase the RF to 30% - 35% which appears to be historical recoveries on these types of fields then this is a monster . Forget about the CNE geo quoting this is a billion barrel field , if you extrapolate the numbers it's much larger .
So big fields 'only get bigger' and Samo is apparently larger again ! Has the hallmarks of HDR again just hope we're we don't get cleaned up before we get to that $1.00. OOO
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