guyane and takeover scenario, page-15

Hi all,

It's very interesting to note Tom Winnithrith' valuation on Northern Petroleum's 1.25% stake in Guyane. Using his risked minimum 3 million pound valuation on matamata alone, this translates into a 234 million pound valuation for Hardman's matamata interest alone !! That's over half a billion dollars Australian !! Our market gives Guyane a big fat zero for Hardman's 97.5% interest so we can only dream what a UK spin off would be valued at.

Cheers,
xmagx


Then there is Guyane (French Guyana to you and me) where Northern holds a 1.25% stake in some offshore acreage where Hardman Resources has a 97.5% stake and is operator. The acreage contains six prospects which, according to old 2D seismic data from the seventies, could be very large indeed. Plausibly the lead prospect alone (it is called Matamata) could hold 30 million barrels net to Northern. Now, old 2D seismic is not very reliable, so let's give this a 1 in 10 risk weighting and ignore the other 5 leads altogether. That still values Northern's interest at, at least, 3 million pounds.


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