PJ,
You had another reference earlier today about the market probably pricing the increase in. I have read your posts closely for some time and have a lot of time for your analytical, sceptical and prudent approach. But I am struggling to reconcile your 'fair value' thesis with the npv figures presented in the report.
Are you valuing everything outside the 70mbbl at zero, or are you of the opinion that $50 per barrel is on the high side for the project term
In light of the evidence, both these assumptions seem quite radical.
Drilling programme potential, page-92
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