Ann: Nido Acquires Additional 0.6% Interest in Ga, page-28

re: Ann: Nido Acquires Additional 0.6% Intere... Hi Olly, if you mean what did NDO pay for the additional 0.6% to take them up to 23% then Post #: 4245722 by 62Strat has the answer...extract follows in bold

NDO would have paid $480,416 dollars for the extra 0.6% of Galoc share.
The two sellers were paid $800,000 per percentage point for what they sold (a total of 2.56xxx% combined)...GPC would have paid the balance.

For my own purposes I used ~13 Million barrels remaining in Galoc - based on the Galoc 1P (Proved) recoverable reserve published Dec 2008 of 15.1 Mbbl less the 2 Mbbl extracted to date. Like other on the forum, I figured NDO got a bargain by applying 0.6% to this remaining reserve to arrive at additional oil to NDO going forward.

The Galoc estimate at 3p (Proven Probable Possible) puts the recoverable oil as high as 56.0 Mbbl (recovery factor of 25.5%) which would make it even more of a bargin.

Work taking place since Dec 2008 will firm up these estimates - hopefully upwards.

LTHold NDO and KIK