onjo, I did say "as such", of course there is still a value even now but nothing like the NPV10 numbers TRACS issued and that's the disconnect between the asset and the SP people >>>>tend to refer to<<<.
And that's what we are talking about NPV10 disconnect to SP, not a TO price!
Chappi, you seem very knowledgable and well informed and very positive, i'd be interested to know what you hope to see the sp at after FDP approval and lead up to it.... Your opinion only , not going to hold you to it !!
Fair comment however do you not think that there is a fair indication that the company will get the FDP approval otherwise why would any finance provider agree to put in place the facility they have? There only asset is the oil we have so the statement that we have nothing at the moment is not strictly the case?
Do we really need to answer that? But I will anyway!
Right, at present the Bentley Field has 257 million barrels of 2P oil (300+ once the 2C resources are re-categorized + EOR a lot further down the road, so possibly between 350 - 400 million barrels will be recovered from Bentley with EOR).......
At present though we have not got permission to touch it! (hence the markets reaction to us)
Because we have not got DECC approval!
I hope you can now see the huge significance of FDP approval, which will mean two things (one can't go without the other of course) and they are:
1. We have the money
2. We have permission
We could have 50 billion barrels of 2P oil but without the permission (FDP approval) to extract it we have essentially got very little in the markets eyes!
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