AIMO. DYOR.
HHR 30/08/2021 announced gas volume of 603 Bcf (billion cubic feet) in reservoir.
603 Bcf is equivalent to 114,570,000 BOE (barrels of oil equivalent).
https://www.energy-sea.gov.il/English-Site/Pages/Data%20and%20Maps/calc.aspx
HHR 01/09/2021 announced that they aim for USD$3 per BOE.
Natural gas is at around USD$5.40 at the moment. It's been above USD$3 since June 2021.
https://oilprice.com/oil-price-charts/
At USD$3 per BOE, this equates to USD$343,710,000 i.e. AUD$470,882,700 assuming confirmation of gas reserves at 603 Bcf, complete recovery of gas and excluding CAPEX and OPEX.
HHR has 1,849,772,126 shares on issue, so this means 25.5 cents per share assuming the above, i.e. around 10 times the current SP.
AIMO. DYOR.
2.8c breakout - then 3.3c Can it break 3.7c??, page-172
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