See announcement 13.11.23.
Torbanite and Cannelite resource increased from 18.6 mt to 28 mt.
However GRV chose to calculate the Synthetic Oil available from the 28mt by using the outdated Modified Fisher Analysis method. They reported 27.7 mboe relative to the 28 mt resource.
Had they applied the Liquefaction Test 3 result the synthetic oil available from the same 28 mt resource would be approx times 4 the mfa value. ie 27.7 x4 = 111 mboe.
My understanding is that we now await the Liquefaction Test 4 result from Monash and this will be the value used in the PFS.
Patience required !!
Add to My Watchlist
What is My Watchlist?
