As a long time investor in PVD my take on the calculation of the share price is based on three variables:
1. Number of shares on issue
2. Quantity of oil found
3. NPV oil price (net oil proceeds per barrel)
Obviously changes in the variables will change the assumed share price.
Calculation
Assumed calculation of PVD Share price
Assume 1,500,000,000 barrels is found
Then, 1,500,000,000 barrels x 0.23 (23%) PVD share of the farm-out
= 345,000,000 barrels
Price of oil based on the initial calculation was a conservative $70 barrel (NPV = $10 barrel)
Hence, PVD proceeds from its 23% shares is:
345,000,000 barrels x $10 barrel
= $3,450,000,000
Assume shares on issue is 150,000,000 shares
Then $3,450,000,000 divided by 150,000,000 shares
Assumed share price is $23.00
As a long time investor in PVD my take on the calculation of the...
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