You’ve missed Cluff’s share and the sovereign wealth fund’s share. That’s the main thing (taking this for what it is - back of the envelope and all that).
If you want to go to the next level - the better way to calculate the ultimate value of the resource isn’t by in-ground value but by NPV. Do a NPV(10) or NPV(7.5) on say a 20 year life.
You’ve missed Cluff’s share and the sovereign wealth fund’s...
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