My opinion on the resource report of PEL 87 – the report is not good, and it's clear why Woodside pulled out.
If I understand correctly, the chances on the right side of the culman are very low.
Around 20% more or less is quite low for a basin where several discoveries have already been made.
I would have expected at least one prospect with a probability of 30% or higher.
Similarly, the number of barrels in relation to a single prospective reservoir is not impressive compared to expectations—I was expecting something much, much bigger.
It seems that PEL 87 has not met the high expectations based on what has been published so far.
Sorry but this is the risk in this indstury.
(20min delay)