next boat, page-490

I agree in general but 1 thing i would point out is until we see the quarterly - we dont really KNOW they are exceeding expectations on things like cost and how that is tracking to DFS.

Yes the DFS is a good guide but remember DFSs are produced to raise money for a project. They are what i call realistically optimistic. They paint a rosey picture to get funding to get the project going. Meeting or beating DFS (on costs) is not easy or straight forward. Particularly if you consider that it was done before IO spiked so there was pressure back then to keep costs low for an already high margin producer.

The only realistic DFS is one in a booming market for the price where things look economic just by sight.

This is not to be negative but to highlight what the market is waiting on. Everything else is in place.
Add the fact that cost pressures are high atm in the industry and i expect costs to be above DFS but not materially so.