Were they the 'same Geo's' who predicted 283mmboe at SNE North vs operator CNEs estimate of 80mmboe??
Not 'prone to exaggeration' you say.... shall I go on?
Otherwise great post kfann...imo
Regarding any further exploration drilling... the forum seems largely to have forgotten that the RSSD PSC sexpire in a few months... aroungdelection time as it happens... but I digress... when I first raised this I got howled at... Whisky49 even accusing me of 'dribbling out both sides of my mouth' .... lol
Anyway, point being.... we do not yet know how much of the discovery area the Govt will allow the JV to retain... it is not a negotiation,,, and with Majors banging down Mackys door I suspect deals may have already been done (ala Total ROP) ....imo.... this is very important as currently the only 'bankable' metric at RSSD is 200mmboe phase 1,,, with FARs share being 27mmboe of that.... with a funding requirement of USD450m at FID...
Hard to justify a $700 market cap...imo.... and certainly torpedos any 3~12b barrel RSSD expectations posted almost daily here.... reality check Monday anyone?
DYOR
FAR Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
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