RE: Dilution1 Oct 2023 20:47
11:04
That oft quoted figure of $3.1 per barrel should be read in conjuction with the statement made by OSL in their 4th quarter report , 2017.
$3.1 was the headline figure but based on conservative calculation of resources, upside has subsequently been proven .
So OSL reckon they actually paid nearer $1.3 per barrel.
Of course POO is healthier now than at time of deal but how deals are negotiated can give a picture that may not be factual, Armstrong knew the like resource was likely much higher than that quoted in the original deal.
page 3
https://announcements.asx.com.au/asxpdf/20180123/pdf/43qzpc616f58vg.pdf
Ultimately fields are different, we are tighter but close to TAPS, so how do you value :-)