Nice one. How does the PSA compare between their jurisdictions and Cuba?
I've gone at it a couple different ways from using a 50% discount on a one-third value, in-ground basis (since they aren't reserves yet) applied to an already PSA discounted portion and valued current numbers at ~ 28c per share and then I've also done a projection based on various production levels with a PEx8 valuation that would require ~ 50k barrels per day to produce a 26c per share valuation.
These methods both landing at the ~ 0.9 - 1.0Bn valuation area.
Although quite a few of my assumptions would be up for debate, there does seem to be some consensus between what we're arriving at, the touted Development plan, and the $1Bn market cap aspiration.
GLTAH
Ann: Block 9 - Maiden Contingent Resources, page-186
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