'Norwest believes Xanadu has a potential 90MMbbl of oil in place...

'Norwest believes Xanadu has a potential 90MMbbl of oil in place with potential for 28MMbbl of recoverable oil. Redhill South could hold up to 25MMbbl oil in place with potential for 7MMbbl oil recoverable.'

this is all p50 at this stage.

for what is recoverable

28 mmbls + 7mmbbl = $2bil potentially.

Since they cant afford to pay for this project, their actual share if they farm in, or for what other deal could leave them with 30% or about $700mil

this could take over 50 years to extract all the oil, remember flow rates decline every month/year the well runs.

after tax's and running costs this could leave them with $8mil P.A of net revenue.

its not that big a deal when you break it all down. gives them enough money to finance the UK project.

they cant do all these other projects you list all at the same time, they dont have the cash flow for it.

it would be extreamly foolish to assume some other company is going to pay for it all for NWE..