How can i sell SEA.AX and get money back?, page-41

do I have too?

From Sundance Energy Investor Presentation (SNDE on the NasDAQ) ... their first
https://sundanceenergy.net/wp-content/uploads/2019/12/Sundance_December-Corporate-Presentation_Final.pdf



I think this is the number we need to compare to

but that was at SEC pricing as at Dec 31 and not the flat deck of $55 oil and $2.75 gas that LONE provided.
But I hunted that down for you



This is important and easily overlooked

So compare PV10 of $1,335.8M for LONE to PV of $1,110 for SEA
So subtract away the debt ($460M total inc WC adjustments for LONE) leaves $875M for LONE
And then on fully diluted basis 40M shares (i.e. converting all the preference shares ) gives about $22/share vs current share $2.20 or a 90% discount to SEC PV10

And how does SNDE compare?
PV10 of $1,110M
Less Debt of $365M
leaves $745M and with ~6.876M shares thats about $11 share .... or about $108/share
and at $15/share that is an approximate 86% discount.

Tells me a couple of things
1) SEC PV10 is way, way, way, way overstating asset value and why we see such a disconnect between the share & asset price
2. SNDE and LONE are being valued in the same relative way

But hey what's in a few numbers.

Rock on higher oil prices