Ann: Rising oil prices - Hedging Update, page-80

First 80 Last

Share
Profile

Follow
Quest09

799 Posts.

111

06/10/23

12:25

Post #: 70207467
Share

Originally posted by Quest09: ↑

Expand

Originally posted by Quest09: ↑

An informative article on CE1

Calima Energy Limited’s Chairman Mr Glenn Whiddon Unveils Promising Developments in Brook’s Assets

Link to article: https://colitco.com/calima-energy-limiteds-chairman-unveils-promising-developments-in-brooks-assets/

Expand

Originally posted by Quest09: ↑

Let's do some math to estimate the value of CE1's proven oil reserves within the Brooks Project (these are my personal calculations. DYOR).

Above article shows:

CE1 Proven Reserves (1P) = 8 million barrels
Approximate Recent Oil Price = US $90.00 per barrel

Value of 1P Reserves = 8,000,000 barrels x US $90.00 per barrel

Value of CE1 1P Reserves = US $720,000,000 (US $720 million dollars).

This calculation only considers 1P Proven Reserves. As shown in above article, CE1 also have 2P reserves (proven and probable), which also should be considered.

Als of note about CE1:

- is currently undertaking a drilling campaign for 3 new wells.
- $7.5 million dollar capital return to shareholders is currently underway and due this month, equalling 1.2c returned per share held (approx 10% to 15% return on current share price.
- oil prices have been on a recent uptrend.
- management have recently been buying shares on-market.
- top50 share holders own ~63% of CE1.
- Auctus Advisors have a price target of $0.45c on CE1.
- Canadian oil & gas players have recently presented takeover bids for CE1, and more future bids are being speculated.
- stong news flow expected in the short/medium term as a result of the drilling campaign, the capital return, and the speculated takeover bids.

- Annual Revenue = AU ~ $98 million dollars.

- Current Market Cap = AU ~ $58 million dollars.

CE1 is significantly undervalued IMO.

DYOR

Expand

Ablett,

I'll post about CE1 as i see fit.

Please consider that you are welcome to do the same.

Last edited by Quest09: 06/10/23

CE1 Price at posting: 8.8¢ Sentiment: Buy Disclosure: Held
5 Upvote

2 Great analysis

Reply

Top Stories

BRX

Belararox delineates another porphyry in Argentina at Tambo South

GYG

Guzman Y Gomez shot up nearly 40% in first hour of trades. Can it last?

ASX Market Update: Shares fall flat as GYG soars on debut | 20 June, 2024

TM1

Shares up 196% on Terra's news of major reef discovery at Dante

Your questions From the Floor: Investment experts respond...