We have small interest yes - but it's spread out.
See the Slide I posted
3%. X 175 wells = 5 wells effective full basis x 1m barrels = 5m barrels reserves
Etc
This is all about reserves growth and ultimately sale of undeveloped reserves .
People make the mistake thinking about only a 3% of finished wells of a cash flow perspective .
That's about one well. And error . Forget cash flow as it is based on finished wells .
We are NOT a cash flow valuation .
The business model here is about the 6.5 or 14 other wells in the block NOT developed .
That's where the undeveloped reserves are.
We sell an asset which has grown in value as proved by the well completion by the adjacent blocks .
Our goal is to sell undeveloped reserves - not make money from the 3% in one well on the block that has been completed as a proof of concept .
Our 3% will give us net 5-20 m barrels for BRK - is my understanding .
Sell that and cash return to BRK.
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We have small interest yes - but it's spread out. See the Slide...
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