Ann: Robust development economics for SNE oil field, Senegal, page-100

Recovery factor info on the face of it is very interesting, however Mr Market isn't going to place bugger all extra value on an increase in oil ultimately recovered out of SNE as the time length is just too distant, ie very simplistically as not taking into account production declines etc SNE has approx 20 years to empty at 100K barrels per day, any increase in reserve due to improved recovery factors would extend that. IE a tripling of reserves and it is pumping for 60 years instead of 20 years. Mr Market isn't going to put bugger all value on cash flow that will be delivered in 21 to 60 years time. If ultimately they see this recovery factor coming in significantly higher than 13% they will need to consider how to get production significantly higher if they want it to be reflected in the share price IMO.