Blue Horse, what exactly did FAR show to Bells in their preso...

Blue Horse,

what exactly did FAR show to Bells in their preso other then whats released to the mkt ?

I was interested in seeing the actual composite log from the well showing the net payzones etc. This is what would get geo's excited. I saw the Mahogany-1 log screenshot back from the day which got the world excited on the sheer quality of reservoir data, so not sure how Bells got interested. Wonder who's writing the reports there these days, since the Southern Cross boys took over this mob.

Haven't seen Bells say much about the Amplitude cut-offs for the Albian Clastics at SNE-1 yet. I guess they'll come back with a better valuation after the announcements one would think.
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Whisky1,

Capex at JUA phase-1 was originaly US$3.1bil, final fig's were US$3.3bil incl 3 semi-subs to drill the 17 odd wells, 1-FPSO, subsea etc. Their nxt project called TEN is factored at 4bil first oil mid-2016 frm 17 wells. I would have expected FAR's brokers to atleast dig up some facts on Baobab (23API oil)  & JUA (37 API oil), to back their rationale, as these 2 r producing fields from Cretaceous Fans in Cote'd ivorie & Ghana.

Just the usual dribble of 29m net, 500m gross, boring. Need more details: actual porosity/perm & the actual data, exact separation betwn the sands etc. That's how u put the mkt at ease rather that it's actually a decent/ interesting find at Fan-1.

The mkt isn't blind to see FAR dig-up a few 100 mill's to fund its 15% portion of the capex hence the '15% sale' theory rationale. Perhaps Cath should do a simple Q&A to answer such technical questions. That will help.