In my opinion the appraisal of barryroe is likely to be a long drawn out process requiring a lot of farm out and equity financing. Remember that the CEO of San Leon explained that the reason they reduced their interst from circa 30% to a 4% net profits interest was because he believed barryroe would require a lot of equity finance to get developed and that taking dilution into account San Leon shareholders were better off having a 4% net profits interest than a large licence interest in the field. Then again he is a CEO with technical oil qualifications and he would be expected to know that kind of stuff.
yep good business decision by OF and the sle bod..although its 4.5% of the total field
of failure..you have to drill and there is no guarantee with expo but drill sle have many times!..never given up....some prospects they drilled weren't failures..they need more working on..ie main dolomite..rogity not a failure..lewino no!..scincy nope!!....many prospect still in the mix.. and sle are a E&P company now not just E!
to me only failure has been sp with PI"s selling..but that said it has been a great advantage taker for longtermers who have believed in the sle assets and a great buy in for those new investors who can see from these prices a clear way to profit with the other wells and seikierki etc etc etc...wish you atb with sle earl..links
we know from DM article and from JP that this is the largest find in EU for 20 years...this is some well to have that tag!!.............FX energy have found conventional gas in poland......but has never been tagged with the largest find........we have another similar prospect to the west (another rawicz!!)similar size!..
plus lots of other locations...marvellous pop pickers!!.....think if we can carry on like this we are in for a turnaround......not arf!!.........imo lots to come yet...
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