Pointing out that MOL have combined Oil In Place, Resources and Reserves into a meaningless total? Get real. Gulf continues to spend VERY HEAVILY on the Akri-Bijeel asset, and instead of receiving $350m to $500m for it - as Gulf advised - we've sunk more and more capital into it. Indeed, the difference between Gulf' FORECAST cash-at-bank position and its ACTUAL cash position is undoubtedly HALF A BILLION DOLLARS because of Akri-Bijeel. You add the plus and the minus together. In fact, the "damage" caused by Akri-Bijeel is actually DOUBLE THE TOTAL AMOUNT RAISED ON THE BONDS. Significant, or what? Interestingly, John Gerstenlauer hinted at disagreement between Gulf and MOL in the conference call. And while I'm being boring, ponder the following. MOL see Ajri-Bijeel as a KEY PART of their operations going forward. How does that work, on the numbers MOL give in the video? His numbers are about ONE-TENTH those of Shaikan (less, in fact). So how many 2P recoverable barrels is that, on the CPR basis? Well, take the 300m 2P for Shaikan and divide it by, say, 10. That's 30 million barrels 2P. What's MOL's slice of that...let's say 20 million barrels. Produce that over 20 years, 1 million barrels per annul to MOL. That's just 3000 barrels a day. You see the problem? NONE OF THE NUMBERS STACK UP.
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