Look at the numbers it’s clear SM58 reserves are almost exclusively undeveloped and or probable reserves the company of course has obfuscated the position by not providing 1P breakdown into PDP/BP and undeveloped on a field by field basis as they have historically … now ask yourself why would they lump all 1P reserves together when they have provided granularity in the past.
Look at the 22 report re SM58 detail
Vs no detail this year
How can you possibly say BYE reserves are worth $175m for SM58
BYE have 4 mmboe producing or behind pipe remove 1mmboe for SM71 that’s 3mmboe with (80/20 oil gas mix)
you are suggesting the market will pay $58 per BOE of 1P reserves for SM58 noting (80:20 oil gas mix). Dreaming …
might be worth redoing those numbers the maths don’t work.
Look at the numbers it’s clear SM58 reserves are almost...
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