If this ‘merger’ is 2P reserves based, I’d want Papua LNG to be included as it’s the closest to FID. One could say Dorado is close to FID also it may not be in 2024!
in this case, the ratio would be 3.24 vs 3.42 on Dec 2022 reserves.
I suspect WPL/STO are rolling forward the Reserves statements as part of the valuation process and it will be what it will be.
Ann: Santos responds to media speculation, page-102
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