Just remember like all the holders on here I'm biased LOL!
Realistically Strike’s non-SE/WE portfolio could realistically fetch $315–360 millionThis estimate includes risk-adjusted discounts, realistic in-ground pricing, and assumes rational buyers, not fire sales.
Walyering - $55-60M (41PJ) Ocean Hill - $80-90M (306PJ which is currently only 2C Peaker Plant (discounted NPV) $160-180M Everything else $20-30M ED not factored in as yet awaiting either 2C and/ or 2P
So in utopia someone buys STX all and sundry we get 0.416 per share or $954m but here is where reality sets in as i can't see the strategic rationale for buying the other assets when the only really decent asset is WE/ED the rest are piecemeal with OH a possible ray of sunlight.
Certain this is why 618 has broadcast the need to sell WE as quickly as possible to turn that money into drilling at OH and the other permits with a view to monetise these either by selling gas into the domestic market or even replicate the Peaker Plant. Either way we're a long way from the "look through" values that were around pre-SE drill failures.
Footnote: I'd also expect a partial return of capital if WE is sold.
STX Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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