We really only have an effective mcap of $400M as we are carrying $108M cash on the balance sheet. Doesnt sount significant, but it is a 20%+ difference.
And when punter on here rave on about dilution of a couple of cents i think its pertinent to focus on our EV mcap.
Euroz claim we will be looking at an mcap of $650m to $1B soonish and placed a $2.20 valuation / target.
My cash flow models value AUT at $1.59 for Dec 30 this year all other facotrs equal and development on target. Thats with a PE of 14. At Pe 16 its 1.81 . based on $77net boc and $3.25 net dry gas.
That places absolutely Zero value on the undeveloped acerage and reserves. No value on the acruive acerage proposal, and no value on the JV with the best partner in the entire eagle ford.
Ann: Ipanema AMI Production Update , page-68
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