re: Ann: ROC: Basker-Manta-Gummy - 2P Reserve... Just did a little further digging on BPT's reserves.
In relation to colquhoun's statement BPT had already written down the value of BMG from over 5MMBOE to 2.40MMBOE in the 2008/2009 year.
BPT did this as it was not confident in how it was measured (and justifiably so)
This is why it is only likely to see a 1MMBOE fall in reserves.
The 1MMBOE is only about 1.50% of reserves.
I will restate my previous statement and believe the current sell down is over done.
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