Second this, with BPT heavily downgrading western flank, what are the implications for COE?
back of the napkin calculation says, BPT paid 84 million for Senex assets in same area for 6.4m Barrels, downgrade is of around 20 barrels, so 250m impairment. COE has 25% stake, so around 63m impairment? Not sure what the book value of Western Flank assets on COE's balance sheet is though, but total assets site at 660 mil.
I'd say maximum would be 10% (60m) asset write down for COE, but more likely around 6% (30-40m) since Senex purchase was a bit overpriced, so doubt the same value is ascribed to the 20m barrels lost.
@jake0002, thoughts on this?
Ann: Q3 FY21 Quarterly Report, page-34
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