Recoop,Indeed, value is hard to ascertain.Oliver has rightly...

Recoop,

Indeed, value is hard to ascertain.

Oliver has rightly been considered a marginal field, and when the sun shines it has value, when the poo is low or uncertain it is viewed as near worthless.

Also always a little dubious about virtual appraisals that add resources (eg Puffin, or perhaps BMG).

Once I looked at the earn in on this I got grave concerns wrt STU's ambition here, but there are companies better suited to the risks than STU (financially stronger and more expertise and experience of this type of field development), so with poo looking better I wouldn't discount STU getting a decent price for their earn in rights. Obviously by the announcement they are expecting to get enough for the equity component of the diesel project. If they do that they"ll have added substantial value for shareholders.

Worth watching.

EL