Hi Retired
I understand the US $ 25 profit after tax per barrel on $70 price is a simplified figure for the combination of Dorado liquids and Pavo super barrels.
Reducing it to US $12.50 is a simplified time value of money x the 45 million 2C barrels trying to value the liquids only opportunity it in today's dollars.
I forgot to say the future gas opportunity is also not mentioned in the previous post as a plus plus ... increase in true value.
Does this help ?
CVN Value and Share Price Catalysts, page-195
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