GREY:ENGFF - Post by User
Post by
seekthetruth2on Apr 26, 2012 2:06am
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Post# 19837425
Giant Field Equals Giant Money
Giant Field Equals Giant Money Rovuma Area 1 is the giant offshore gas field near Mozambique where Cove Energy had a stake until Royal Dutch Shell acquired them this week for $4.60 per barrel of oil equivalent. Now If this same value per barrel of oil equivalent had been put on the entire field of 30 Trillion cubic feet of recoverable natural gas it would have been an astounding $25 BILLION DOLLARS!...Take a field half that size and its still a mind numbing $12.5 BILLION DOLLARS. I guess this shows that even gas can fetch a good price if you just have enough of it.