Can't see this project go ahead even if the oil is proven imo. The margins are just not there and may never be there. Those getting out now may be the smart ones.
88E fully diluted value current $287m for 77.5% ownership of Icewine
Modelled breakeven oil price for success case
Current oil price approaching US $40
Who is going to fund this sink hole with low cash post Icewine 2 drill hole.
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