Tarfaya Offshore Block – Morocco (25%), page-3

foxx, also what are they worth to Galp as they have a 50% share so if nothing happens do they lose that?

My initial thought is that the total block is worth USD$66m if TPT sold 50% to Galp for $33m.

But that is before the Tao-1 duster.

So it would be worth less now given Tao-1 was presumably the most favourable option.

So TPT's $16.5m would now be worth considerably less.

Maybe $8m at most?

I'm no expert though and do not know much about the remainder of the block or other requirements regarding drilling or timeframes.