MAY has booked net contingent recoverable resources of 14 million barrels (net to MAY), with a further 27 million barrels unlockable to the west with more drilling (with a high 70% chance of discovery). It ofcoarse doesn't take into account CUPET's share or tax but is a good first start for a serendipitous discovery that flows at decent rates unassisted to surface. The figures will no doubt expand or be refined by further wells and seismic. Feral is also right in his suspicions of MAY's announcing. It is masking the fact A3 has only progressed 100 meters in the last 13 days. The SP is behaving as i'd expect, but of coarse the export and sale will drive real value imo.
Ann: Block 9 - Maiden Contingent Resources, page-77
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