I value Poseidon (on a 2P basis) at $1.3-2.4 per Tcf for KAR's 40% share. So 5.5Tcf = $7 (for Poseidon alone) while 7Tcf gives over $9. And that is on two very conservative assumptions -
1) Tcf values based on only 50% of CoP CSM ORG purchases in a frothier gas market. On an equivalent basis, $2.4 per Tcf could be used giving $13 and $16 respectively.
2) Allows for significant dilution to raise brazil drilling money - out to 200m shares.
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$1.73 |
Change
0.003(0.14%) |
Mkt cap ! $1.371B |
Open | High | Low | Value | Volume |
$1.72 | $1.74 | $1.69 | $2.068M | 1.205M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 66989 | $1.73 |
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Price($) | Vol. | No. |
---|---|---|
$1.74 | 7290 | 6 |
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No. | Vol. | Price($) |
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16 | 33023 | 1.725 |
18 | 87864 | 1.720 |
9 | 93098 | 1.715 |
12 | 322257 | 1.710 |
8 | 46450 | 1.705 |
Price($) | Vol. | No. |
---|---|---|
1.730 | 34067 | 28 |
1.735 | 28554 | 18 |
1.740 | 102583 | 16 |
1.745 | 81691 | 10 |
1.750 | 116371 | 13 |
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