If you work from the stand point of the more 1P Maid Marion has the higher the price will be paid for her - not earth shattering - what constitutes 1P
Proven Reserves (1P)are considered to be the following
Proven reserves which are producing
Proven developed producing reserves
Proven developed non producing reserves
Proven undeveloped reserves -
Essentially if a well is producing gas it is considered to be proven - we know Maid Marion has wells which are producing gas there issue is getting it to flow appropriately.
If the last Oman well which was drilled towards the end of last year struck gas you have to consider that the proven reserves at Maid Marion will see a nice increase. Although they have been very quiet on the success or otherwise of that well - anyone know anything????
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