Hi guys
Shows the latent value in ROCs portfolio
If they farm down to 20% for a free carry well - success would still deliver 8 mboe barrels which is bigger than ROCs Beibu reserves as they currently stand. The secret is to have a few prospects with meanigful prospects that don't cost much for ROC. Increases the probability of some success by having a few decent size prospects. I don't mind farm downs at all.
The other part is the deal values ROCS share of the prospect at 15 million - whereas brokers value it at zero. More hidden unreconised value
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