Another interesting note is the re-negotiation of the oil spot price.
quote:
Oil is currently being sold at a discount to the WTI, partly due to the existing contract based on Wichian Buri
crude, which is of lower quality, and also due to the wax component of the oil. Pricing is currently being renegotiated.
We estimate the discount to be around 15% to the WTI.
End quote:
hartleys valuation 115c, page-10
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