MRP Money will come and get the oil! Currently the TSB Field has over 100 Million Contingent Resources in 1C/2C/3C oil. There is value for contingent reserves but it is in the low single digits $ per barrel and variable on location etc. The very important significance of the upcoming News is that we will switch from contingent resources to Reserve status, 1P/2P/3P which adds very signficant greater value, I have often seen $7 to $10 per barrel and this rises towards $20 per barrel as production approaches.
It is very clear that MRP having re-drilled the TSB #1 field in Dec 2011 and proved the oil existence and commerciality will switch from Contingent Resources to Proven/Probable/Possible Reserves. My knowledge indicates that there is a different valuation for each of the 3Ps however it is simpler to average them to approx $7 to 10 per barrel but use all 3Ps when doing so.