sorry mate typing on the mobile what i was trying to write was i dont use the multiple and apply it to the 2P and 2C resources of COI.Majority of WGO resources were 2p (90%) so the multiple should be on the 2P resources. 422PJ (211PJ Warregoshare) and a gross 2C Contingent Resource of 30PJ (15PJ Warregoshare). I personally wouldn't apply that multiple across the 2P and 2c and if i did i would discount the 2C heavily.as i said this just a crude measure based on previous M&A. east coast gas prices are higher than west coast so multiples should be higher. I have also modelled full field development for their JV assets and wholly owned assets. There is many ways to skin a cat and many variables which can be flexed to give you an outcome that suits your bias. For me a valuation between 30-40 for where they are at makes sense, that aligns with the broker reports i read.
COI Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
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