Bell Potter have updated their Tiof oil field development assumptions. They now assume initial Tiof Phase 1 production starts from about 1Q09, building up to around 50,00 bopd (gross) and Phase 2 around 2H 2010 to 150,000 bopd. Total capex US$2.2bn.
Value to HDR is $0.62/share. Share price target has now been reduced to A$2.43 (prior A$2.89)
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Bell Potter have updated their Tiof oil field development...
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