The 1U for T2 sitting at 890kkbbl is incredibly comforting. Even if we presume that the use of the word fair is a weak indication for hydrocarbons at T2, our weakest estimate is still 71.2M USD in revenue. This is a pretty amazing worst case scenario, which assumes the lowest estimate for T2 and no oil in T3 or VI+VII targets. Given T2 has oil and has a similar prospective chance ('good' as per PRM announcement), I'd expect some oil in T3 (if not VI and VII as per @@danpech's opinion)
Regardless of what we find out tomorrow, PRM requires a serious rerate at some point as Monday's response to the announcement was disproportionate to say the least.
PRM Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
