RE:Town Hall PresentationFor me, the most interesting piece of information from the Town Hall presentation was that they intend to monetise 6-12 months from now. By this time the current drilling programs (11B/12B on the south coast and 2B on the west coast) will have have been completed and the recent swathes of 11B/12B seismic data will have been fully processed and interpreted.
They also said that success at Luiperd, assuming identical fluids to Brulpadda, would double their present NAV, with Luiperd upsides of the fluid proving more oily than Brulpadda (because of an expected lower reservoir temperature) and the volume being up to 30% higher than previously estimated, based on the latest 3D seimic interpretation. Add to this the upsides of the other undrilled prospects in the Paddavissie fairway and the discovery of a similar fairway in the east of the block and the next 12 months look very interesting.