1 Billion divided by 50 million = 20 X 15 = 300 PPS

[Palm]

Really don't see the reservoir arguments of shorts holding much if any weight at all. The table that lt out up the other day which is from the SPA and says basically, here is what the two parties see as the basic dimensions of the reservoir(s). Reservoir estimation as based on several things; volumetrics backed up by core samples, wire line logs, DSTs etc. That's all in the data room and been eyeballed by many REAL experts.

From all of that they come up with estimates and the P50 is the 50% probability of quantity, not some arbitrarily assigned probability. And the 5.4 TCFE is not what Total sees as the P50; as stated in the IOC filed docs it's a "threshold". Now what is a "threshold"? Pretty obvious.

So at least a fair P50 seems at this point would be an average of GLJ and GCA. GLJ is based on more recent data, so it gets more weight. Total will get what they need. So will IOC, and so will we. This will play out very nicely.

[Palm]

The other possibility with the 5.4TCFE. In the CC Hession explains the difference between what Total reported and what IOC did. He states that Total is repoting what they feel THEY will be paying and that is net of the possible selldown of 19.3%. He emphasizes this several times in responding to Evan Calio. So, if this is net of the 19.3% selldown, that leaves Total with 80.7%. The math is:

5.4TCFE/80.7% = 6.6TCFE- The GCA P50 number.

Is this possible?

[admin]

You just showed it's possible

These sums add up for a reason

Thanks for that.

[jft310]

The other possibility with the 5.4TCFE. In the CC Hession explains the difference between what Total reported and what IOC did. He states that Total is repoting what they feel THEY will be paying and that is net of the possible selldown of 19.3%. He emphasizes this several times in responding to Evan Calio. So, if this is net of the 19.3% selldown, that leaves Total with 80.7%. The math is: 5.4TCFE/80.7% = 6.6TCFE- The GCA P50 number. Is this possible?

of course not the GCA report was before Antelope 3, we now have an 8 mile structure at E/A. And it may get bigger

[Palm]

JFT, has the updated GCA report been made public? Is the GLJ estimate going to be included in the confirmations? It's to our advantage to have them use the initial GCA report as that is a lower threshold that has to be met.

[jft310]

The thresholds are set with associated payments

The bar as you imply has been set low to the older report

This is Dec who us doing year end certification of rassets report for 2013 ? Could it be both GCA and GLJ ?? Whose paying?New CEO new reservoir engineering firm

[Getitrt2]

The other possibility with the 5.4TCFE. In the CC Hession explains the difference between what Total reported and what IOC did. He states that Total is repoting what they feel THEY will be paying and that is net of the possible selldown of 19.3%. He emphasizes this several times in responding to Evan Calio. So, if this is net of the 19.3% selldown, that leaves Total with 80.7%. The math is: 5.4TCFE/80.7% = 6.6TCFE- The GCA P50 number. Is this possible?

I don't think you are setting this up properly.  I think the 19.3% is part of Total's 61.3% pre-PNG, or 31.5% of their share, leaving Total with 42% as indicated in their pr.  How they get to $470 million from there, I don't know, much less the $590 million figure.