RE: Completion Of Seismic Confirms CashCowThe new seismic will probably confirm Genels estimate of the block + recovery factor, then the Longford share will go to heaven..
This is Genel-enerji´s estimate for the Longford Block, Genel uses a 50% recovery factor for their Iraqi fields.
Chia Surkh Exploration Block:
• Oil in Place : 3.1 Billion Barrels
• Number of Wells : 7 (old wells)
• Operator : “Joint Operating Company” will be
Established
• Net profit oil to foreign contractor after Royalty,
Government back in rights and Contractor’s cost recovery : 10 %
• Aggregate Government take of profit from the project : 90 %
https://www.genel-enerji.com/info_note_eng_300509.pdf