Yeah agree, materially overpaid imo. 2P costs are higher than $18's if you look at it from a NRI, (WI or Working Interest just refers to the cost percentage that you pay). They are paying 745m USD for 2P oil reserves of 31.2m bbl, of that 31.2m bbl only 19.9 is Oil the rest is predominatley low paying gas (10.1 gas and 1.2 NGL). So they are actually paying US $37.44 for 2p Oil or US $23.88 for 2P BOE. They really have paid top dollar for this.
The only shining lights I see are index buying associated with ASX200 inclusion, 1P is relativley high as a % of 2P, and it is currently producing.
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