ppl
Please consider that once key has a field size independently verified (ie by GNC etc) and a producing well, it may be in a position to partially debt fund other activities. Banks will lend against P1 and sometimes some of P2 cash flows (P2 funding depends on number of producing wells, location, field size etc). See BCC and STX for examples of reserves/cashflow debt funding facilities recently provided by CBA and Macca's.
Marxist
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