Thanks CB - you too! May you see your $8 at long last. ;) It's...

Thanks CB - you too! May you see your $8 at long last.

It's not that I don't want to answer that question so much as I'm not really capable of answering it!

Theoretically of course, Mac Bank should be bidding higher on CTP up to a price that meets their minimum risked ROI cutoff. But that is an incredibly difficult thing to estimate accurately because it's extremely sensitive to assumptions that are very poorly constrained (particularly subsurface and market dynamics). The oil and gas industry is riddled with companies which either overpaid, or walked away too early, because they stuffed up that estimate. And the times companies did buy into a winner it's often more luck than judgement.

It's even harder for us observers to guess what assumptions Mac Bank are going to make to determine that value.

All I can really say is that, as I've said previously, I consider 50c the starting price for negotiations. If they're not willing to pay that I'd rather back CTP to develop it themselves.