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Table 1: Notional multi-phase development at Guyana: about $22/sh to Hess
document IMAGES-003-HOUSE_OVERSIGHT_014879.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…very that resembles Liza recalling that the partners have identified over 20 additional drilling prospects. On the assumption of a ‘plus three year’ development scenario after Liza, the potential impact on incremental production and cash flow is significant for Hess while the cum...

We estimate that it is in 3yly, 2y2y and 2y1ly that the selloff would be largest (75-85bp
document IMAGES-003-HOUSE_OVERSIGHT_014759.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… selloff would be largest (75-85bp — see Table 5) were the OIS curve to align with the median dots up to end of 2019. Options are attractive to position for a selloff in those forwards for two main reasons: 1. Volatilities in ly and 2y tails appear to trade cheap on our macro m...

Chart 16: SAN, BNP, ING, ISP and DBK average 6M ATMf implied vol is
document IMAGES-003-HOUSE_OVERSIGHT_014981.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Chart 16: SAN, BNP, ING, ISP and DBK average 6M ATMf implied vol is Chart 17: Despite the recent drop in realized correlation, implied trading historically low (13" percentile since 2008) correlation is priced near the high end of the reaiised range for the basket of EU banks...