I would be interested in everyone's thoughts on the potential value of the farm in. Firstly, what portion do you consider Cuadrilla will be willing to give up and secondly at what price. At such an early stage in the process how valuable are project NPV's in deriving this value? We have a relative idea of the recoverable resource and gas price sensitivity but I find it hard to establish a reasonably accurate value at this primary stage. Thoughts? Obviously this will be pure speculation.
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