As a side point, our NAV assumes a value per barrel in the ground of US$13.84/bbl
using a long run Brent price of US$90/bbl flat nominal and a discount rate of 10%.
We would note that the breakeven oil price in our model is ~US$35/bbl (assuming a
10% discount rate), reflecting the projects robust economics at much lower oil prices.
In a nutshell, page-19
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