estimates, page-5

Seems like a low recovery factor Ya. Would the fact that the oil pay zone is a little deeper to nearby fields suggest that the API could be a bit higher and therfore better recovery?

This is not to discount the fact that Carmopolis field has produced almost 40% of its resources and is still going steady with small natural decline. Carmopolis is also at about 700m and not too far from 1N-SE1.

Also, recent transactions have been for about $20-$25US per barrel of reserves.