CVN 6.45% 16.5¢ carnarvon energy limited

advance Energy up, page-38

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    Not BHP, Nexen. BHP were long gone when the field was decommissioned. 'Nearly depleted' isn't really correct, it was just uneconomic at the time due to low production rates, for reasons discussed elsewhere. It's an important distinction. They may have been able to increase production but the POO and the required CAPEX at the time meant it was deemed not financially viable. Without oil in the attic it's likely that the field would still be marginal for similar production and technical reasons. The POO is higher, but so are capital and production costs. We wait and see.
 
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