The table that @huaneng posted from EH states "Gross Potential Resource Size" not "net Recoverable Resource" for the size of the discovery and the Potential Resource Valuation (per barrel) for the recoverable resource.
Should it not be 'recoverable resource' v 'potential resource value'
Adapting their table for a 10B GPRS with a 30% recoverable figure would be $3B and at $10 PRV per barrel the SP according to the EH table would be $1.054 ... according to the EH formula.
Or if a 20B GPRS then a recoverable resource of 6B with a SP north of $3.513
How many exploration and appraisal wells and DST's would need to happen to confirm that I wonder ?
Would PCL even be involved at that stage ?
PCL Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
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