Ann: Walyering Production Update, page-87

Yeah all fair points

I'd thought about extending it to be further out, but I'd then need to model out the forecast field decline profile as well as spot price. At 10% discount rate, the FCFs 10 years from now will only make minimal impact on the current dollar valuation in the overall context of things. I tend to use my model to give me a ballpark conservative valuation figure to work with. If the market is pricing something significantly lower than my model, then it gives me enough confidence to commit

Regarding LNG, that's too speculative for me to factor it in. As I'd mentioned before, as with all modelling, it is entirely up to each individual how conservative or aggressive they want to embrace in terms of assumptions. No right or wrong there I mean, one could model a much higher spot price than I have given the expected supply deficit to 2030, and maybe beyond, but I am happy with being a tad conservative as it will give me even more safety margin.

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