Contingent resources13 Aug 2019 14:22
It was at the end of 2017 when a mid case GOIP for the TE-5 horst of 0.65 Tcf was given by the company. A 2C (mid case) recoverable, contingent resource for the TE-5 horst of 377 Bcf was provided at the same time. Since then the "failure" has negotiated the FEED agreement with Enagas, Elecnor and Fomento, consolidated the Company's field development plan with the Te7 update on connected gas volumes, and beefed up the GSA with a non-binding offer from Onee. Two years have passed. The FID is now close, whether in the hands of Sound or a potential bidder. The contingent resources are becoming a real asset and a target of 1.028Tcf for the horst. 36.6p of value. If Mr Parsons has trouble selling that he should skedaddle without a bag of dosh.