It seems more like a quick patchup job by ECB, who've been banding KAR since inception, they still can't get their numbers to match up their text!! Cant b that hard now, if one was so close to the company.
ECB's latest valuation for a 7tcf resource for KAR's 40% stake puts a value of $2.4b for Browse prospects.
With 250m shares on issue, this is worth $9.60/sh not $9.30/sh, as the tusker mentions in his latest valuation.
Fortunately, he got the overall prospects valued right, 2905m/250m = $11.62/sh, but then Browse is in the spotlite for now, then Sth America. Hence $9.60/sh seems a fair price.
And then the typical cover y'r backside pearler....
"Due to the imminent announcement of the outcome of the Poseidon-2 well – which will affect our valuation by up to $5 per share – we maintain a HOLD recommendation. Karoon shares are High Risk and suited only to professional investors or investors with a high risk tolerance."
Thats confusing, $5 up or down, perhaps the latter. Yep, we all know by now the impact of losing an MDT tool & a liner tool, one month after reaching TD, did to the SP at P#1. Hence the advice, 'suited to professional insto's' or those with deeper pockets.
Anyways look fwd to an update on the logging/testing results, as that will b the necessary trigger for the SP, instead of a brokers recco.
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$1.48 |
Change
0.025(1.72%) |
Mkt cap ! $1.172B |
Open | High | Low | Value | Volume |
$1.48 | $1.49 | $1.46 | $4.698M | 3.195M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 7026 | $1.47 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.49 | 24874 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 7026 | 1.470 |
4 | 51672 | 1.465 |
2 | 85603 | 1.460 |
2 | 26001 | 1.455 |
11 | 143722 | 1.450 |
Price($) | Vol. | No. |
---|---|---|
1.485 | 24874 | 3 |
1.490 | 54915 | 4 |
1.495 | 186824 | 4 |
1.500 | 41515 | 4 |
1.505 | 17742 | 3 |
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