Raymond James research today

[Kaliboo]

Related question. Press release says "gross certified 2C resource". I remember previous discussions on the TOT payment due to IOC upon certification being based on recoverable resources, not gross resources. Is this difference as significant as it seems?

gross means all of E/A field.  Not a fractional working interest.

[2126]

AU74 and Kaliboo: I agree. The CVR is limited to E/A certification numbers, including A7. And they are 2C resources ie. contingent resources estimated to be potentially recoverable. Recall, however, that this includes 2C condensate resources.

[AU74]

gross means all of E/A field.  Not a fractional working interest.

So no reason to worry about the 40% mentioned in this footnote?

- "One-time cash payment per IOC share equal to US$.77/mcfe (gross basis, US$.99/mcfe on net basis of 40.1275% of interest in PRL 15"