re: Ann: Basker-Manta-Gummy - 2P Reserve Down... Maybe overdone. From your figure, 100% BMG interest will be $315m, 25% downgrade will be $315x0.25 = $126m, but ROC doesn't own 100% BMG, so the downgrade is less than $126m, hence the drop is much more than the downgrade value.
However, market is not happy if you don't beat expectation, let alone downgrade, so down she went.
We might see high 30s today, DOW is currently down.
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