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
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