west seahorse update, page-8

To try and guess a number on the WSH/Wardie scenario. Given the oil found in WSH there must be 40 cents value in TDO. If Wardie comes in on prognosis I would add $1 value to the combined story - that is with no allowance for the upside that the fields are connected.

Given the seismics and the location of the Wardie prospect there could be a 30% probability of a good result. That is 30 cents for Wardie on a risked basis - that would put 70 cents on TDO while the drill is in progress.

However, it all depends on your view on the great uncertainity of the truth machine.