RE: RE TCF Guidance23 Nov 2018 14:37
Keeptothefacts - Let's keep to the facts. The facts are that no-one knows a TCF is worth so talk of 100% or 45% of £1.50 are meaningless. This is what James Parsons has told us this morning: "Before the OGIF transaction (2016 – I think it was our CFO at the Shard event) put an early rule of thumb estimate out but that was (from memory) before capital estimates, it was I think an average across the 34 Tcf potential (with capital costs spread across a much larger base), divided by a different issued share capital base and very limited if any discounting (just to name a few differences). The whole point here is this is exactly why we have tried hard not to guide on the value of the existing discovery. Until we have a GSA, FEED and development capital there are too many uncertainties to provide such guidance."