my humble predictions for stb, page-15

obviously an NPV of $5bn+, with 100m shares/options on issue suggests a share price of $50+ ... however STB will probably not get to production stage with current ownership ..... i am just pointing out that the K&S multiple represented a substantial discount .... however the low cap-ex requirement at STB (as well as substantially improving the NPV) must be v. attractive to many parties because they only have to find < 1bn in loose change, in the short to medium term, rather than 2.5bn for another deposit ... ie. much easier to sell the project to a board or shareholders ..... & from the acquirer's perspective, payment to shareholders of STB for deposit may be 1.5bn (approx 15$ per share), plus capex of 1bn = outlay of 2.5 bn, for future cash flows in todays $ worth $6bn ($5bn + $1bn) ..... ie. still very attractive @ 15$ p/s