Time for a reality check. There has been some good work done lately on valuations, and it is good to see the different calculations used. In light of the current shenanagins going on I have run some numbers from a slightly different perspective. To keep it simple I have attempted to put a value on liquids only based on what we know so far in terms of potential quantities. All numbers reflect BRU 50% share only. NGL avge price = 70% of oil price. NGL in ground value = 70% of oil in ground value ($20)
Yulleroo 36mmboe @23%NGL'S = 8mmb's x$14 = $112m
Valhalla (based on 2tcf) = 334mmboe @23% NGL'S = 38.5mmb's x $14 = $539m
Ungani 10mmbs @$20 =$200m
Total = $851m/234.2m shares = $3.63/share in ground value liquids only. Any feedback welcome. Cheers Paddy
BRU Price at posting:
$3.21 Sentiment: LT Buy Disclosure: Held
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