Thanks for posting that. I see their valuation of the Western Flank works out to about $26/bbl, close to my estimate that it might be around $30 per barrel NPV. There will also be increased opex and increased D&A on the remaining barrels so the profit margin on them will be less too.
So together with the gas reserves downgrade we can expect a sizeable writedown at full year results. It won't be pretty, but it should be factored in by now IMO.
Ann: Business Update Presentation, page-140
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