hiya, Huntleys Research report 4th may 09 as published on the FAR website, suggested a pre drill valuation of 20cps based upon 300 million barrels of potential equating to a value for FAR of $900 million. (Sorry, don't know what "p" value that was based upon)
This was based upon Karoon Gas being apparently valued Pre Drill at 12.5% of the potential value of the target.
http://www.far.com.au/files/research/Hartleys%20Research%204May09.pdf
My understanding is the latest 3D seismic indicated in one zone a potential 1 billion barrels of oil. Taking Huntley's figures based on 300m, this equates to a pre drill price of 66 cents (1000/300*20cps)
Likewise' if the 1 billion barrels gets proven up by drilling then Huntley's suggested valuation of $1.50 based upon 300m barrels would be $5.00 per share (1000/300*1.50)
http://www.far.com.au/files/asxannounce/Elodge%20ID727548%2028May09%20-%20FAR%20AGM%20Presentation.pdf
Any thoughts?
cheers
billdah
hiya, Huntleys Research report 4th may 09 as published on the...
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