NI 51-101 Prospective Resources: For those who don't think it's a big deal, just check out AOI - now valued north of $1.23 billion. According to what I read is that a Merrill Lynch is valuing Tullow's Kenya blocks at $8 billion and AOI have a similar size so really AOI blocks are valued at $8 billion? Not too sure about the report as I am not following AOI closely but from AOI presentation, all their Kenya blocks have a total best estimate of 3.4 billion barrels. Remember, the recent discovery by Tullow is not proven to be commercial as yet so really the valuation is relying heavily on the Prospective resources numbers on the various prospects. $8 billion for approximately 3.4 billion barrels?
What should EOG 6.3 billion barrels be worth if Chariot or someone else makes a discovery very soon? Namibia also ranked as may be the best African country for doing business in (see the CEO interview, he worked in many African countries including good ones such as Botswana and Ghana but says Namibia is better).