What % do CVN hold of that 300m barrels? Is 300m barrels the P90...

What % do CVN hold of that 300m barrels? Is 300m barrels the P90 estimates or P50?

I would be very surprised if it goes that low as you predict for FAR. CVN were approx 8c before hitting oil, peaked at 30c and dropped over 17% today to finish at 14.5c.
That will mean it will have lost around 50% of its value since the find.

FAR were 4.5 - 5.5c pre-drill/hype. They peaked at 16c, roughly 3.5 times the value similar as CVNs increase when oil was struck there. 8c would be 50% drop for Far, however Far made two substantial discoveries, both potentially standalone.

By dropping to 5 cents Far is back to where it was pre-discovery with no potential value for those discoveries.

CVN and FAR are both victims of the plummeting oil price and the knock on effects that has for all O+G sector participants. I think most of the current oil price value has now been factored into the prices, but thats not to say there won't be more oil price drops, I suspect there will which may drop the prices a bit further but IMO to the 7.5c minimum range for FAR.

Tullow already down 7.5%, CNE 4% on LSE.

Look for the USA majors to get hammered tonight.