Dave,
Not sure what your hang up about getting our rewards on first production is.
Really imo the next key reward point for us is FID. Not sure first production will deliver much as often there is still a lot of apprehension and often teething issues. Might take 6 to 12 months to derisk and confirm reservoir preformance. Then progressively the cashflow itself and then hopefully tie-ins, additional reserves etc. Suggest you shorten your horizon to the FID, it’s one of the biggies, it’s also the price point where STO are likely to reduce at providing good value lookthrough.
EL
Ann: Investor Presentation, page-21
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