Sav-JI take your post and would add that you have not included...

Sav-J

I take your post and would add that you have not included the debt of 50% and farmout would more than likely be 50% as well:

So:

11.6 billion barrell mean resource which mind you is UOIIP

35% recovery rate = 4.06 billion barrells, and

they only have 50% of the package = 2.03 billion barrels

50% debt = 1.01 bill barrels

a farmout of 50% being a MAJOR interest leaves them 50% of .5 billion barrells = 500 million barrells.

I think you need to re-look at your calcs as you have double dipped on the 50% ownership but neglected the debt and I have included a conservative and realistic farmout.

Happy to be proven incorrect:)