RE: Leviathan comparison25 Oct 2021 13:23
19Tcf at this moment is a dream scenario. We for the most part have been modelling on this board for 1Tcf and up to around 4Tcf. Above 1Tcf and you got a bloody significant bit of acreage. It is likely over the 7200 km we have that we could be a few multiples higher.
That gives us (even after a JV or in some investors mind a placing, if unlikely as it is a JV doesn't hoover this up) an eye watering upside as GRH, wack, sef, mem et al have suggested. Lets not mention Leviathan yet. There is seismic to come after these first few wells which will be bought and paid for a hundred times over on a successful drill. Those surveys could just be staggering, but, we must be careful what we figure in the future.
The present reality looks mighty fine. Especially as there is a significant bit of acreage sitting in the Irish sea that is looking more and more likely to be unlocked. This will be mainly due to an Irish riot if they don't get some cheap gas.
The acreage has so much upside that all that matters is whether we get the drill in the ground. The rubbish over the placing or the JV is rendered irrelevant when you take into account the benefit of that drill hitting prime acreage. We lose some percentage either way, but the gain is a leviathan without 19Tcf, just a mere 4Tcf. Granted it could be larger alot larger than that...