You'll find I did use 60% - based on many being defined as 60-100, the valuation was for 36-60....
I do feel that 60% is a little too aggressive for valuations as I tend to err on the conservative side, but I'm happy to on the basis of evidence on nearby fields and any short comings are in part off set by further exploration potential within the block.
another quiet moment of reflection, page-6
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