Hi Gazzer
After my dodgy maths was exposed - in a very kind way, I should add - by Linc, I’d be more inclined to use his numbers:
Mate...13.5% of 100,000 barrels a day gets FAR about 5m barrels pa which is about $123m (at $25np)
So around 2c NP per share at roughly 6bn shares..or 16c per share.
The 16cps refers to FAR being valued at that based on an earnings multiple (PE) of 8.0 - assuming FAR nets $25 per barrel. Market cap would therefore be roughly a billion dollars.
Adjust the assumptions as you will to fiddle the outcome, but I’d suggest the biggest factor would be the oil price. $100 oil would blow these numbers away. It would also produce a double whammy because the market would apply a higher PE in my opinion.
OOO
About to run again? Last chance for cheepies?, page-206
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