Hi Mr.H
Forgive me if I am wrong here, as not a hedging specialist, but surely not as simple as that. These Kosmos hedges must have been taken out earlier when the price of oil was higher - they state they have a current value to them of $238m (as at Dec 2015). We do not have production to hedge and, if we did, to hedge it at $60 with current prices at $35 would not be free (reverse Kosmos example)?
pj
Kosmos presentation (lot`s of Senegal), page-4
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