I am saying they had a 2P of 1.1 on 100% basis.  They have...

I am saying they had a 2P of 1.1 on 100% basis. 

They have farmed down from 100% in both blocks to be free carried, one to 12.5% and the other to 20%. So before farming down they had p2 of 1106 boe. Its a glimpse of what farm outs look like. 

12.5% completely free carried including, 3 exploration wells, appraisal, development and infrastructure is a pretty fine deal IMO, and a more than fair comparison as MAY have done the deals and are in the throws of getting drill ready and IVZ have just announced a prospective resource estimate.

I do not hold MAY and have never held MAY, it was for comparison purposes only. No more from me. Aimo DB