well I was a s/h in BOW.since the t/o, I have heard from a...

well I was a s/h in BOW.
since the t/o, I have heard from a number of people in the industry, that the BOW ground was poor, and would never be commercialised.
if true, thank you Shell & Petro!

the big factor in the BOW t/o was that BOW had little 2P reserves, but a big 3P reserve.

re 2P and 3P, it was explained to me that there are a myriad of factors which are supposed to be taken into account when ascribing a value to a 2P reserve.

imho, there should be a difference in a 2P number for WCL when they are actually producing, then a much higher number when it has actually executed a GSA.
Because one of the factors in assessing a 2P value is "commerciality".

and as someone pointed out to me, look at MPO.
last I read MPO had 341pj/ 2P, but production has virtually ceased, and no work has been done to remediate the wells. So previous valuations based on the purchase of that field by Petro, surely would need to be reassessed?