I think you will find any issues from Conrad relate to the need for an additional well to confirm reserves and help with production engineering plans...as such, arriving at potential reserves is potentially the only "not quite right" aspect here.
Do we have 60mmmbls with 20mmbls recoverable...or 300mmmbls with 100mmbls recoverable?
This question greatly impact engineering, cost structures and all manner of forward planning...it especially impact valuations models at this point in time.
Perhaps to the extent a sweetener at Kwanza may be needed to give the green-light to North Matanda?
Same people, perhaps if they want North Matanda to move ahead badly enough, they will be more accommodating elsewhere?
Whether all this happens or not...and when...I suggest is indelibly linked to Kwanza.
Cheers!
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
