IMO anything over $3 will get over the line, but this would seriously be under valuing Beach.
If they prove the shale gas to be economic and the vertical wells are successful and they have 60 tcf of Gas in place proven; just for the shale gas alone the valuation would be $12 Billion! (( This is based on a valuation of - $0.2= 1000 cubic feet (rule of thumb for Static Gas valuation - Per broker report)) So the shale gas alone would be worth about $9 per share.
This does not include any value for the current producing /development assets or exploration permits such as Tanzania, plus no debt!
In the current market IMO, I think most holders will be glad to take $3 a share, which is a shame, because this share in my opinion should go for something like $10 per share. Sounds optimistic, I know but it looks like they will have a shed load of gas, and already have good producing assets and exploration permits and again zero debt!
financial review, page-15
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$1.28 |
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Mkt cap ! $2.920B | |||
| Open | High | Low | Value | Volume |
| $1.29 | $1.29 | $1.27 | $4.172M | 3.258M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 34600 | $1.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 308421 | 5 |
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