Does the $100mn cap at spud sound daft? This is not an exact...

Does the $100mn cap at spud sound daft?

This is not an exact science but...
About 10 years ago I bought shares in a junior company with 3bn barrels of oil o
Prospective accross 3 basins in Namibia. Chariot oil and gas

In 2011 after farming out a block to BP they together lit up the market with a prospect they heralded as a ‘mega strucutre’ called nimrod, The volume and size of this mega structure was said to be 5.5bn barrel prospective resource. The strucutre was 500km2 and saw chariot reach a valuation of $600mn equivalent at spud.

Like i say no exact science but the mzarabani prospect is 220km2 and being re worked now. 500m+ vertical relief and 4 serous reservoir intervals on the way down. So just under half the size of nimrod.