what do you think seychelles could be worth.?, page-34

IMO, it's worth nothing just yet. In fact atm it is a high risk oil proposition.

The previous exploration well did not find any oil. So the targets could well be the same : water and air pockets.

It's a $60m question to find the answer to each of the 22 targets.

22 targets for 5.3b barrels of potential.
22 x $60m = $132 billion worth of exploration wells is required for the total potential resource.

So I suggest you should use the largest target rather than the total potential.

btw, in the Afren Black Marin deal, the main assets were not off shore. Also it was more like the Petrolquest WHL deal. Money out of thin air.

DYOR