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H, Cairns upgrade is a result of increased,reworked recovery...

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kimbo252

904 Posts.

05/09/17

08:53

Post #: 26995776
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Originally posted by hardmano ↑

kkw

Thanks for digging that email up. Nice little hint there that WPL is likely to assess the numbers close to FAR's numbers. And we know Cairn's numbers don't inlude the reworked recovery factors which they have suggested would be 30-40% for the 500 sands and 20% for the 400 sands. That's double what they are using now (17% I think I have seen) for the 500 sands and who knows what they were using for the 400 sands.

This should give us some confidence that FAR's new RISC estimates will be between 800-1200 mbbls and the JV should be closer to this than Cairn's underestimate.

"Couple of weeks" is better than "in coming weeks" which can means anything less than 8 weeks!

Looking forward to this news and of course the farmout for The Gambia blocks which Greenhawk has hinted may be September/October.

H

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H,
Cairns upgrade is a result of increased,reworked recovery factors.
& I would say WPL used Fars last numbers to sell their acquisition to their SHs at the time of purchase.
Don't expect WPL to step out of line with the Operators figures, because at the end of the day,finance is not an issue for them.
IMHO

Kimbo

FAR Price at posting: 7.1¢ Sentiment: Sell Disclosure: Not Held
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