All this talk of a $1 SP if Shell takes up its 70% option is absurd wishful thinking in my opinion. A 1 Bbbl find would probably rate FAR near $1 ($3/bbl *200m bbl share / 600 odd million shares) however there is still the pre-drilling risk to take into account guys! There is no way that CSEM is capable of giving near 100% accuracy. The most prospective 3D seismic hydrocarbon drills have chance of success (CoS) around 30% - for CSEM to increase this beyond CoS 50% 12 months or so pre spudding is quite unrealistic in my view. However I do think a SP of around 40c after Shell farmin news is possible.
1 dollar? tell 'em he's dreamin'
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