Room to grow8 Feb 2018 14:42
in the Providence summary, I think a lot of people miss that the table there gives the figures for the upper and mid reservoirs but there is also mention of what they estimate to be sitting below in the lower Wealden and the Purbeckian
"Further incremental resource potential has also been identified in logged hydrocarbon bearing intervals within stacked Lower Wealden and Purbeckian sandstones, which the Company estimates contain total associated P90, P50 & P10 in place oil resources of 456 MMBO, 778 MMBO and 1,165 MMBO, respectively. In 2014, the area of SEL 1/11 was increased by c. 160 km2 to provide for possible extensions of the Barryroe oil field beyond the area previously licensed."
Essentially, if the P50 number there is proven correct, then the current take for LOGP from that would be 155M barrels above what we are assigned at the moment. That gives LOGP a total of 224M barrels.
Using yesterdays $3 figure gives asset value of...
$672M
That doesn't include the gas.
Said it many times but the value disconnect here is the biggest of the shares I have looked at. We should be at least sitting in double figures IMHO.