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It is hard TO See why Barryroe FO is so slow and difficult. Oil futures are 65 dollars a barrel for 2020. Barryroe present production cost is sub 30 dollars. So potential Farminee Just has to do appraisal drill and determine Future Oil flow. Lets say it is initially 30000 bpd. If You sell Oil futures at 65 dollars for 30000 bpd You can lock in a 35 dollar profit per barrel per day. If price of Oil rises Farminee can choose not to exercise any put options purchased. Also all development costs are recoverable against Oil sales. It is obvious that Oil demand Will continue to rise. Supply at 50-60 dollars a barrel Will very unlikely meet demand. Barryroe must be a gem. Still believe we Will Get a deal, perhaps before christmas !!
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