Indeed, you are correct and wrong at the same time.
I agree with a 50% farmout, $2.15 Billion ain't bad.
The calculations were based on $60 oil. At $80 oil, its $4.3 Billion, even with a 50% farmout.
At $100 oil $6.5 billion..
Anyways, if Tezza hits the sweet spot a couple of more times in Hawk Springs, SSN will be taken over and developed by a bigger player, imo.
cheers all
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