in a "more normal" world .......the market would price in 20-40% of the EMV of an exploration well in the lead up to drilling .........
I "don't care" abt BEL-1, provided the sands below it come it ........the risks are velocity profile throu "something" charged sands above it (pull-up effect)......
has anyone seen a date that the JV would make an election decision to exercise the options over the drillship ?
rgds
V_H
Inevitable retracement ahead of Bel-1 outcomes, page-6
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