SOCO - Now's the time to wake up!

ee

Thanks for your reply to my query yesterday - it prompted me to think a bit more about the potential VN reserves - with the result that I now have another question!

I've been looking again at the ML initiation note on SIA and see that their 'net size potential' figures are 133.8mboe under 'appraisal' and 671 under 'exploration', plus 122.3 under 'remaining WI reserves' making a total of about 920mboe. My question is how this relates to the 3 bn figure which management estimate for the total potential across the two blocks (e.g. your post number 2320 above). I had previously assumed that the 3bn figure was for gross reserves, rather than net to Soco but having just done the arithmetic this doesn't tie in with the ML numbers (20/23% of 3bn being about 650m rather than ML's 920).

Am I missing something here - surely the 3bn figure is not net to SIA - is it?! If so, with the price currently below £14 again I might just have to have another top up. ;-)

Any further clarification you can provide would be much appreciated.

sc