Seems like a low recovery factor Ya. Would the fact that the oil pay zone is a little deeper to nearby fields suggest that the API could be a bit higher and therfore better recovery?
This is not to discount the fact that Carmopolis field has produced almost 40% of its resources and is still going steady with small natural decline. Carmopolis is also at about 700m and not too far from 1N-SE1.
Also, recent transactions have been for about $20-$25US per barrel of reserves.
ERH Price at posting:
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