What 2P reserves are you guys expecting for SM71 in the Sept Qtr Collarini reserves update ?
The latest estimate I've seen is from the K1 broker report commissioned by OEL. I assume he based his estimated reserves on info from OEL.
In his valuation summary he's estimating 4.4mmbls 2P reserves net to OEL on a Net Revenue Interest Basis.
That of course is the same for BYE's equal share in SM71
With BYE closing at 45cps today, equal to $308m market cap, it's trading at around A$70/brl for forecast post update 2P reserves.
OEL closed at 6cps, equal to $92m market cap and trades at A$21/brl of forecast 2P reserves.
OEL has an equal share of VR232 (or SM74) and a larger share of Biv Peak which seem the most likely drilling targets in the next 12-18 months, along with any stepouts in SM71
We're scratching our heads on the OEL thread as to why BYE has a market cap 3X OEL, or $200 million more ?
I can see a case for BYE to trade at a modest premium to OEL, due to in-house expertise and tighter register, but $200 million higher ??
SM71 expected 2P reserves ?
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Mkt cap ! $53.93M | |||
| Open | High | Low | Value | Volume |
| 4.8¢ | 5.0¢ | 4.8¢ | $113.0K | 2.300M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 1 | 78099 | 4.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 5.0¢ | 129812 | 1 |
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| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Change
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| Open | High | Low | Volume | ||
| 4.9¢ | 5.0¢ | 4.8¢ | 864145 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| BYE (ASX) Chart |