It looks like we gave up 40% to shell for not much in return.IMO

What are your thoughts BB?

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We are short, very short on cash and must honor commitments, so this move is the right one in my opinion....that 40% farm out, not only covers part of our seismic obligation but also covers 100% of the drilling...and drilling in the North Sea is NOT cheap. I don't recall seing a number for this poking run , but $30 millions+ per well in the North Sea is rather common....so ouff. on that.

Furthermore, said property has a 2P of 8 Million boepd.....our current 2P stands at 33MM, it sort of reduces it to ~ 29MM.

So all in all I'm OK with this, better then selling the entire assets and not get revenues in the futur.

That said, stay tune for I am expecting a couple more of the likes of this......