Ann: Alameda-1 - Independent Resources Assessment (Upper Sheet), page-243

One last iteration to iron out my poor 4.30am arithmetic!


look at the size of alameda and marti. In the 2d they look 6-8x the amistad. And with just double the recovery factor this is going to be huge say 7x 73 (melbanas share of 240 high estimate) x2(double the RF of amistad) = 1.022B + 0.073 = 1..095 total high case and if valued at NPV=$5/ bbl then melbanas share is 1.095 x5 /3.2B(SOI FULLY DILUTED) = $1.71

I think high case is fair with these NPV calcs, as they don’t include the other strings in the bow such as Zapato and other prospects in block 9 - purely a layman’s stab at a valuation take (and I note 100km2 so 6-8x HA! could be 15-25x)