RE: World's largest Oil and gas5 Jan 2018 12:00
hmm, maybe. However.
Our CEO stated in August that the study Xodus did indicate "highly positive NPV values in various P50 (Prospective Resources) development scenarios for both of these prospects and an implied extrapolated un-risked NPV for the six identified prospects on Licence P2248 of �697 million."
He then goes on to call them assets:
Independent confirmation of these prospects' commercial viability reinforces the Company's view of the quality of our existing assets and, as such, facilitating the drilling of one or more of our Southern North Sea gas prospects remains our absolute priority.
Same in the Operating review, "assets" on p2248 and p2252.
We have the licenses for the p2248 and p2252 areas and there is gas 'indicated' in these areas, hence I would agree that we have assets. To what degree that has been de-risked is the key in valuation of these fields and this company.
Indeed, which these reports in place (Xodus and Exodus), I am surprised that the SP is decreasing on news that Saudi Aramco is looking for new Natural Gas 'resources'.
GLA
MS