Nice find OG. The farmoutangel website is an interesting one...

Nice find OG. The farmoutangel website is an interesting one isn't it? The summary and valuations appear to be done by independent group, and are based on public material. Suggestion is 3D or a well - and $30m? Bit unclear. I wonder if they are mixing some old info with new here? I checked out some of the neighbours valuations on the website and things don't quite add-up. Admittedly, the website includes a valuation confidence meter. PEL87 says medium, while the PEL90 guys who are closer to the discoveries have a valuation of $1m to 5m for 60-80% at low-confidence. One would assume 60-80% of that block would be valued a lot higher than that. I guess they have less material made public, hence the low-confidence. I wonder where the $30m consideration being sought number has come from. Have you seen that number before? Would be nice. I could imagine a deal for 60% (majors are going to want at least this), paying 100% of the seismic and a well, but I am not so certain of the $30m part. It would be nice to have double figures at least.