hi guysi've seen people quoting around $16BBL...personally i...

hi guys

i've seen people quoting around $16BBL...

personally i think you are under quoting.

current oil price US$98.99BBL

i think if ADX were going to sell it's 40% they would be asking for at least $16BBL if not slightly more.

given it's onshore and close to many facilities like ports, pipelines etc. this is a big plus.

i'd be looking for US$20~25BBL, even US$30.00 specially with a good flow rate.

recovery factor i'm using 40% at this point, ADX have said "formation is good quality, oil also seems to be good quality".

ADX gets 18.36MMBLS..(approx 40% of 51MMBLS= 18.36MMBLS X US$30BBL)

comments welcomed.
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