re: Ann: MOG: Completion of Farmout to Oil Ba...
Hi All,
BHP report 2.13.1 comments on reserves:
"Most of the Group’s projects require signifi cant capital expenditure and multi-year lead times before initial production can be achieved with the associated movement of reserves from undeveloped to developed. Based on current project schedules, more than 99 per cent of the 924 MMboe currently classifi ed as undeveloped are actively being pursued and are scheduled to be on stream within the next fi ve years. The remaining undeveloped reserves are located in active fi elds expected to produce well into the next decade and will be brought on stream in a phased manner to best optimise the use of production facilities and to meet long-term gas supply contracts. The Petroleum Group has a dependable history of progressing large undeveloped volumes from undeveloped to developed, evidenced by the past three years, which have averaged nearly 80 MMboe per year. 2.13.2"
Cudeco1 - dyor
OBL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held