and now the jeruk value, page-4

Hi Barracuda,

I agree with your opinion that Jeruk could bring us far more upside then I have stated in my previous post by following the broker who said that Jeruk would add at least a dollar to the shareprice of Santos.

Lets say we have 300 mmbo recoverable
CUE will get 15% which is 45 mmbo
in ground value for CUE@A$15 /barrel is $675 million

which would give us a value of:

CUE shares on issue around 400 million
$675 million : 400 million shares = $1.68 per share

So at 300 million recoverable we would be looking at an added value for Jeruk of $1.68 per share.

Take off the $100 million buy back cost which is $0.25 per share and we still end up with around $1.50 per share.

So it all depends on how much oil but I believe that 300 mmblo recoverable could be possible.

jojo