The write down of the carrying value to zero happened, like you said, in the 1H24 report. This was done after post-blowout (or whatever) analysis. Shouldn't that suggest the production profile adjustment has already been made?
Updated GC 21 2P reserves are 800 mbbl oil and 1.5 bcf gas. On a 100% basis last Q's production was 68.5k BOE for revenue of US$4.2. Doesn't that imply they'll be producing from that well for some time to come?
It seems worth nothing that the insurance payout for GC 21 reduced the carrying value, so that is $US7.5M that has been written off that has no impact on the economic viability of the well above the otherwise accounted impairment.
The write down of the carrying value to zero happened, like you...
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