value of zola/wa-290-p/wa-49-r, page-11

Coopec
Agree with all your points about prospectivity. If you look at the farm
In value dollar wise that majors contributed before gas was found it gives you a sense of the likely floor value.
Is agree that incremental gas resource / reserve additions add alot to big projects and having more gas derisks the chance of other fields under producing.
However , the transaction needs to be a win win therefore it will be sold for less than theoretical value even adding in prospectivity. I am open to a surprise on the upside , and an equally comfortable 50m should be absolute minimum. Amazingly , even with 50 m sale price that would add 21 cents to the SP.
I think the sale price may be as high as 100m but I am budgeting something on the 60s . Despite the outcome only a figure less than 40 m would result in my disappointment and thus all sale ranges above 50m would be cause to celebrate. The only difference is a really big sale price will result in big SP appreciation whereas the 50-65 million sale price in my view will see us in the 75 - 80 range