fair value now over $2.60, page-6

cheap oil - xmagx Hi xmagx
Interesting article re the failed Exxon well costing around USD100m....staggering amount of equity to blow on one well!!

That cost, and the cost "blow out" on the ultradeep BP well on the 1bn bbl Thunderhorse discovery in GoM I mentioned last night, makes one really appreciate the modest development costs so far anticipated for the initial Mauritanian production facilities. Even a Tiof development won't cost anywhere near those sort of bikkies for each well.

regards
DF