Massive Upside26 Apr 2021 16:28
Below is an excellent post from HopingforBags (the legend) few days ago who is most clued up here than us just to give an idea of Monster Upside.
"Chuditch bigger than that near 400mboe posted, the Shell GIIP for the right hand side
of the license was 100% COS and 5.73 TCF GIIP that's 974.1 Mboe, with much upside to
the south west with another half a dozen leads they though more high volume gas and
two that they thought more likely OIL or Condensate reservoirs
This is a monster of an asset for a market minnow, regardless of the eventual deal
new field development Operator and terms of farm in, cash , drills free carry end
holding %j
This at minimum will be worth a transformational hundreds of millions in the ground
NPV 10 etc alone, never mind the production down the line
At current diluted share base 1p is only £104m of that potential, as someone said
recent still looking for a sweet spot explorers 88e hit a Market Cap of £569M on that
anticipation rise
We on drilling will have far higher expectations Shell already spent £37M on development
and $8m on the Chuditch high volume gas discovery well drilled in a mere 26 days
So a deep pocketed partner will be looking to fast track multiple wells
This is a proven asset by a Major coming back into play soon and worth Billions."