You're right, dangar, it's a massive number ... but then indications are this could be a massive discovery. FAR has mapped 3.5b barrels in prospect, FJ has talked about 12b barrels of OIP, we've found world-class prolific source rocks generating prodigious amounts of oil, and the JV is notably silent about it all ... except it can't hide its actions and they suggest the scale envisioned. COP has pretty well canned its exploration program and flown all its big guns into Senegal, Cairn likewise.
Yes, we have 15 per cent (maybe 13.7) of the current acreage but we've just picked up 75 of Djiffere and who knows what might follow.
According to the EIA, proven reserves in the Gulf of Mexico total just under five billion barrels. I can't find a figure for the total project(s) cost in the Gulf but I doubt $25b would come close. What if ... just what if ... this thing we're wrestling with is of comparative size? Dream of a dollar? Yep. Hope for more? Yep. Happy with 30 cents? Not on what I'm hearing ... and not hearing.
I suspect I will be getting on more and more Ignore lists, but that's okay. Every forum needs one unbridled optimist.
OOO
You're right, dangar, it's a massive number ... but then...
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