What we know is oil price today of $59 US x 1.6 bill recoverable barrels equals around 94 billion gross, even while crude oil markets are being hammered.
When consideration is made to consistent multi billion barrel discoveries in this region, i dont see how it would Not be economical for a major with deep pockets to run even a 10 well drilling campaign costing around 750 mill.
The next question is, would PCL holders accept 5.5 cents AU on the assumption that 500 mill offer was made when former estimates at 20% were 12.5 cents per billion IN GROUND.
Concluding that if 12.5 cents per bill is realistic and 20 billion upper limit is realised @20%, a share price of $2.50US is also realistic.
The math certainly works
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