talisman, page-3

Potential acquirers include Santos, AWE and the Roc Oil Company.... AFR(23/04/14)...Puzzle?

then...

Singapore-backed Pavillion Energy is one name that has been mentioned as a potential acquierer.... AFR(24/04/14)... so Pavillion Energy, AWE and ROC...?

The company, which was set up by Singapore fund Temasek, paid $US1.3 billion for a 20 per cent stake in an East African gasfield in November 2013,
and is believed to be on the lookout in PNG.




Suspect Pavillion Energy relate to Convertable Bond..?

192m = 15%




AWE want to get NZ Asset...?

How about ROC....?

Valuation...?


1.Maari/Manaia Fields
2.Beibu Gulf
3.PNG

Maari asset: $206m/16c(Risked)
Beibu Gulf: $315/29c(Risked)
PNG asset: $358/33c(Risked)

Maari asset: $194m/15c(Risked)
Beibu Gulf: $267/20c(Risked)
PNG asset: $406/31c(Risked)

Risk factors make different Valuations....


So,
1.Maari/Manaiafield: 15c(Risked)
2.Beibu Gulf: 21c(Risked)
3.PNG Asset: 31c(Risked)
4.OG deal: +$204m
5.Debt/Bond: -$210m



Next...future growth premium?

Fair Deal: +67c .....IMO,