NDO 7.07% 85.5¢ nido education limited

Implied 2P reserve value

  1. 8,943 Posts.
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    Has anyone come up with figures for what BCP are paying per/brl for NDO's 2P
    reserves ?

    I'm just wondering what Galoc 2P reserves are worth now that OEL is in TH. (Although the TH could also be SC55 related)

    Looking at the BCP/NDO transaction:

    BCP are paying AUD113mil for the company
    NDO's net cash balance is roughly zero @ 30-06-14
    WL 2P UNdeveloped reserves are net 3.2mmbbls x USD10/brl = USD32m
    Galoc 2P developed reserves are net 2.3mmbbls x USD25/brl = USD57.5m
    Other permits/Galoc upside USD12m
    Total USD101.5m / FX0.9 = ~AUD113m

    You can juggle the numbers around but it has to add up to AUD113.

    If USD25/brl is a fair value for 2P developed reserves, OEL's remaining 2P Galoc reserves would be worth:
    3.2mmbbls x USD25 = USD80m / FX0.9 = AUD89m
 
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