What most people have missed is that the oil find at Merlin has upped the Harrier CoS massively. If theres good pay and permeability at Merlin, then you could almost put Harrier at 90%+ CoS - do your sums on that. So if we take the mean case here of 600 MM bbl and use the rule of thumb $3/bbl
it gives an MC of $900M (@50%). Add Harrier to that number and I think it gets into double digits. Whilst they did get oil and the stuff they've shown us appears to be light, the amount of pay is not known so its still a punt. But if it comes in with decent pay, then hold on to your hats. DYOR.
Ann: Operations Update, page-313
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