All these numbers posted by hotcopper junkies reflect the direction that the share price should head but just a short reminder is needed before everyone gets too carried away making a simple multiplication of the US$ oil price by the barrels a day to get EPS or even revenue...
AED will be subject to PRRT (Petroleum resource rent tax) which is 40% of gross production (less depreciated costs etc) and then will be charge tax on top of this...
I still believe AED is significantly undervalued however to make simple calculations like oil price * barrels per day = EPS etc is grossly misguided.
Time for an updated model with extra reserves...
http://www.box.net/public/p3en0apnsz
This is a very rough update with numbers for made up for exploration and op cost... and before any hot shot says I haven't bothered filling the depreciation properly... I'm too tired and going to bed... I've recently moved to London and its after 1am.
Cheers
NZSteve
AED Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
