and now the jeruk value

CUE has now reached the share price it deserves based purely on the assets they have so far, but excluding Jeruk.

Look at the following figures which I have put on previous posts including post 528028.

Gas PNG $20 million
Gas Oyong $40 million
Oil Total @ $15 in ground value $65 million
(I have increased this in ground value from $10 based on todays high oil price)

This bring us to a total of around the $120 million

Todays CUE Mcap is $129 million

So purely on reserves so far excluding upside from exploration we are looking at fair value at the moment.

But the big picture has not been calculated in todays share price and that is any upside from Jeruk.

So what is Jeruk worth to CUE, that is anyones guess.
To follow one broker who stated that Jeruk would add at least $1 to the share price of Santos we can make a calculation.

Santos has a Mcap of around 6000 million
with 600 shares on issue this makes the upside worth $600 million for Santos.

Cue has 400 million shares on issue after the latest placement.
The upside for Cue would be $200 million that would result in a upside for the shares of $0.50 per share.

So if this broker was right we are looking at an upside in the share price of at least 50 cents per share at todays closing price.

A long way back I have stated that I believed that CUE would buy back into Jeruk, when others where not so sure. (look at the previous posts.)

Now I will say that we have a good possibility that the share price is going to double or even tripple within the next 6 months.
If all goes well we have a new HDR in the making.

Next week with high oilprices we can expect further gains as drilling will keep everyone focused on Jeruks potential go become the company maker of CUE.


jojo