So 5 billion barrels at 1$ equals 5 billion$?? -----------------------------------------------------------
$1 is an estimate for "contingent resources"
Contingent resources are resources that are potentially recoverable from KNOWN accumulations
In other words, they have to find something.
Also even if they do find something with their first hit they, the resources wont automatically become 5 billion barrels (lol). It will take many many wells to prove that up which is why they need a strong JV partner with deep pockets.
WHN could make something of itself one day, no doubt, but its clear to see that many here are clueless when it comes to oil/gas. No offence intended.
QFY Price at posting:
6.3¢ Sentiment: None Disclosure: Not Held
