Annoyed that they farmed down our stake in the Canning basin by 6%. ARC got a screaming bargain here imho.
The risked value for a 6% stake in Valentine alone is conservatively worth around $4.3m by my quick calc's (6% of 1 TCF = 60 BCF @ A$0.80/mcf = $48m with a 9% POS = $4.3m). So we swapped a risked value of $4.3m (or $48m unrisked) for about $200k of drilling costs.
How could you possibly justify this?
farming down in canning basin
Add EMR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$3.75 |
Change
0.015(0.40%) |
Mkt cap ! $2.466B | |||
| Open | High | Low | Value | Volume |
| $3.65 | $3.81 | $3.65 | $4.081M | 1.084M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 14753 | $3.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.75 | 33553 | 53 |
View Market Depth
| Last trade - 15.45pm 08/10/2024 (20 minute delay) ? |
| EMR (ASX) Chart |