You have a valid point. But the reason I didn't include flow rates in my probability tree is because a deal (JV or sale) will come first. It is then the task of the partner/owner to progress drilling for flow rates and final commercial analysis. Although it was a negative outcome in the end, take a look at Dory/ExxonMobil. Dory was purchased by ExxonMobil and progressed by ExxonMobil.
Ann: Appointment of Chairman, Company Secretary & Directors, page-37
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