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5.4¢ byron energy limited

What Am I Missing?, page-3

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Michael56

273 Posts.

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28/11/20

21:44

Post #: 49214203
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Originally posted by BigMFizzle: ↑

I've started looking at this company and trying to work out if my modelling is correct.

As of the latest production update, I estimate they are producing approx 1350 barrels per day and 28 mio cubic ft of gas. Taking into consideration their oil hedges, costs of production and trasport, I arrive at a daily net production value of 54,000 USD for oil (SM71/G1/G2) and 67,000 USD for gas (G1/G2).

This is a run rate of 9.7 mio USD per Q, 39 mio USD per annum.

In AUD terms, 13 mio AUD per Q, 53 mio AUD per annum.

For the reserves, 2P at 17.5 mio barrels is approx worth 830 mio AUD at current oil prices and assuming $10 marginal cost of production. The gas reserves of 105 BcF are worth approx 355 mio AUD.

Taking this into account, the current market cap of 170 mio AUD looks low to me. What am I missing?

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You're right. It is a screaming buy, but there are people who seem intent on talking the stock down.
They come from a disaffected associate. It is pathetic.
Nothing really good will happen until the next successful drill.

BYE Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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