looking sick, page-32

Here is how Molopo could be stripped of assets:

Cash = 90mil
Mungi = 60mil (sell for 50mil)
Permian = 50mil (I’m sure Approach would fall over themselves for the assets)
Bakken = 20mil

Total sales could equal 220mil

You’d need to get a controlling interest of 51% so assuming 5% @ 50c average and 46% @ 80c average would be a transaction cost of 100mil. Assume an 8 mil takeover transaction cost e.g. set up data rooms, ASX fees and comms.

So total return would be 220mil – 108mil = 112mil. Your stake of 51% of 112mil is 57mil.

So 57mil if you can get your target of 80c per share which is just about double todays share price.