I am not expert in anything but it seems to me the results from Dorado are worth 40c a share to CVN at this stage.
So, given we have only 20% exposure to the results, a similar result from the drilling at PS3 would add 40c times 5 to the share price, given it is 100% a CVN lease. (i.e $2 a share)
Very simplistic back of the envelop calculations but as an outsider to the Oil and Gas industry I am just looking at the raw numbers.
I welcome any sophisticated analysis of what PS3 might mean to CVN if the results are the similar as we learned of today.
Is PS3 worth $2 a share to CVN?
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