Pro,
Well while you are doing your corrections you might allow for the following three:
1 Taxes and royalties likely to take about 50% of what's left after costs.
2 We"ll probably give up 70 to 80% for free carry through 1 to 3 wells.
3 These prospect sizes tend in my experience to diminish greatly with improved seismic etc. Not likely to be 13% times 400mmbo when the bit hits the seabed.
Anyway dreams are free, and it is good that CVN is adding some very high impact longshots for eventual free carry. But even the optimist in me wouldn't add more than a couple of cps at this stage, and the seasoned cynic struggles with 1 cps.
EL
Ann: Labyrinth Prospective Resource Update, page-24
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