Considering Tui/Basker as isolated oil pools I am wondering if there is the option of the use of a FPSO solution for West Seahorse.
At around 8 million barrels in 2P reserves it seems that say 2 million barrels could be sold forward to underpin a loan of around $100 million for development costs. This is secured with an in-ground oil value of around $1 billion.
I know there are costs in the undersea installation + mooring equipment but it is shallow water and one/two well hookup must be at the low end of costs. At 7,000 barrels per day would a cashflow of $200 million.
TDO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
