Yes, the chinese valued the Puffin field at 1Bn.
When the SP was 2 dollars the company value was about 700m
700m = 300m (shares x price) + 150 (convertible notes) + 250 debt (AP and long term)
At 3 dollars the company value is higher (perhaps 850m) however still less than what is offered by Sinopec
boring, page-8
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