RE:RE:RE:Excerpt/Malcolm Shaw-Hydra CapitalEGF30 wrote: The 11 billion barrel number is referring to what has been discovered in the Orange Basin as a whole by ALL companies including Shell's Jonker discovery. The 5.1 billion barrel number is referring specifically to the Venus discovery with more data expected in late September.
As the numbers were mentioned as 'conservative', easy to believe Total will want to make a big splash at their investor day with numbers to the upside of what has already been made public.
GLTA.
I'm pretty sure the numbers thrown around (12b bbl) were just for Totals Venus prospect. The problem is....that is the reservoir number. You can't get all of the discovered (or estimated) oil out of the reservor. The recovery rate is something like 20+-%.