Cosmo,
That is US 50 c/bbl for the firt 100 mm.
The values are for gross, so they will actually be paying 0.62, 2.5 and 3.25 USD/bbl for resources.
The look through to CVN is going to spook the market a bit tomorrow imho.
I expect STO has got a bit of the steal though, tacked something on to a deal almost set, for the Dorado surprise and played hardball with a keen seller?
Happy to hold and see the $/bbl figure rise (hopefully) as we move through to FID and beyond.
EL
Quadrant Energy acquired by STO, page-14
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