I don't fully understand what lies behind this "valuation."
The reference to "3Q 2022 onwards" suggests the valuation is after receipt of income generated from 4 or 5 quarters of production and significant capex leading to increased production in the period to 3Q 2022!! What value is attached to these in determining dcf value??
Have I missed something??
Ann: Appendix 3Y, page-36
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