The biggest negative in this is that San Vincenzo (San Alberto) now looks like it only has about 2bcf. I was hoping this would be another Sillaro.
On the other hand, the modelling for Bezzeca seems rather uncertain, but if this comes through with the best estimate 4bcf that would be pretty good. And the 20+ bcf 1C estimates for the off-shore licence look good - assuming PVE wins that. (I'm still hoping the approvals process for off-shore production will be faster than it's been on-shore.)
It still seems to me that Sillaro alone would justify the cuurrent company valuation (market cap + debt).
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