I agree that the $10 figure is too low given multiple adjacent...

I agree that the $10 figure is too low given multiple adjacent production assets / connection options. The really big upside is the subsequent drill targets which potentially will be multiples of Matuku. The timing of the close of JV proposals for Kokako and Karoro leads (joint prospective targets OVER 200M bbls) is because they want to have a result for Matuku before deciding who (and if) they want to party with. Success at Matuku should see a very substantial SP increase (but who can tell in this crazy mkt). Fig 14 on P18 of the Oct qrtly shows the 'string of pearls' Matuku look alikes which run all the way down to Maari oilfield. Its a very similar model to what IPB are trying to prove on the Browse basin margin (where OXX have major oil at Cornea field).