80c per barrel is still a heavy risked weighting on HW3 bearing in mind you could probably look at an appraisaed but not developed (so buying undeveloped 2P) for around $3 / barrel of oil. I would think a risked weighting of close to 75% is quite high.
Either way, Aje is worth way more than 80c per barrel and hence why I feel the $13m cash will now be a game changer for the SPP.
