Correct, although with the small caveat that it's theoretically possible there is a small chance there is a resource at least roughly of that level. The 20TCF was the Pmean, if the horizons that have had shows come in at the P10 or higher it could be on the cards again. Although I would never, ever assume or invest on that basis and would, like you state, assume the potential resource is lower given the lack of shows or tightness in some intervals and that the P50 or Pmean is a more likely outcome.
IVZ Price at posting:
33.5¢ Sentiment: None Disclosure: Held
