Dargie,
The last independent reserves audit was Gaffney Cline Dec 31st 2007.
It had 2P reserves at 11.4mmbo to CVN.
Page 10 of the June 2008 Investor presentation quotes a crude sale price of approx 75% to 85% of WTI
So using US$120 bbl x 80% we get US$96bbl.
11,400,000 x US$96 = US$1,094,400,000
Page 10 of the June investor presentation quotes Gaffney Cline "company take equates to approx 30% future nett revenue after taxes and costs"
For the purpose of a line in the sand, we will use that approximation of operating costs, royalty, SRB and company tax.
Thus US$1,094,400,000 x 30% = US$328,320,000
With approx 672,000,000 shares on issue -
US$328,320,000 / 672,000,000 = US$0.4886 cents per share
Say Aust$ = 0.90 US$
We get Aust$0.5429 per share.
This is using reserves figures from Dec 31st 2007. Since then even with a few dusters, there is every indication that reserves will be significantly higher.
But if revenue streams ratchet up, I assume the 30% figure will become more effected by windfall profits tax.
Nevertheless we see a worth for CVN closer to mid 50's than mid 30s. Good time to hop on.
- Forums
- ASX - By Stock
- CVN
- are they good value yet
are they good value yet, page-13
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CVN (ASX) to my watchlist
(20min delay)
|
|||||
Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $286.2M |
Open | High | Low | Value | Volume |
15.5¢ | 16.3¢ | 15.5¢ | $129.5K | 811.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 63996 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 841433 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 63996 | 0.160 |
7 | 822509 | 0.155 |
11 | 339173 | 0.150 |
17 | 458349 | 0.145 |
4 | 387714 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 841433 | 7 |
0.170 | 1721292 | 15 |
0.175 | 1419075 | 15 |
0.180 | 1255701 | 12 |
0.185 | 932277 | 9 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
Featured News
CVN (ASX) Chart |