Most oil references are in USD - Oil Search's 2017 $3.1 per...

Most oil references are in USD - Oil Search's 2017 $3.1 per barrel at least was quoted in USD - so definitely provides an attractive AUD figure. 

I'd have to challenge anyone who says that they're applying a conservative $5 barrel valuation for a deal like this. Simply in my research (although hardly comprehensive), I can't find anyone who's paid more than what Oil Search has for our potential grade of oil. Therefore I reckon it'd be an absolute blessing to get a price of $3.1, or after potential resource upside that reduced the cost to $1.3 per barrel for Oil Search. Even though the price of Brent Crude looks to be on a uptrend, its still very comparable to prices back in Nov 2017.