In calculating the value of oil in Indonesia, you need to appreciate the Production Sharing Agreement(PSC).
Typical conditions are:
1. Operator(and shareholder recovers CAPEX costs (over 5-7 years)
2. Pertamina-BPMIGAS/Operator split for oil production are typcially 15%. ie., after prodcution costs the Operator gets 15% of sales revenue.
3. Long term Oil price is more likely to be $35-40/bbl.
Conclusion, the oil discovery will be "reasonably" profitable. It is not likely to double or triple the company value.
hypothetical calculations on jeruk 2, page-4
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