Ann: Corporate Presentation - Pavo Discovery, page-103

Hi Trainman if you see their capitalization which is at currently at $540m and you would think that most SH will want $1/share or somewhere around a cap of $1400m then they need to have their assets as follows $100m cash etc. P90 and 50% of P50 will settle at 100MMbbls if the next well comes in, plus an inventory of 2B bbls or so of prospects and leads which should value their stake if you assume $1/bbl and given the regional play is coming together. So about right for a $1/Share and perfect for any smart largish company looking to build a significant chunk of production in a low sovereign risk country as long as they have solid cash reserves to build the play.

As a note going through the fully production cycle generates around US$30 net profit/bbl.
as a result buying a CVN for a $1/share is a great outcome for the entrant company. As we know hydrocarbons are loathed by everyone on this world even by those that use them a lot and that is nearly everyone, but peak oil is some years away probably 2035 plus at 120MMbbl/d or more. Additionally the world needs 40MMbbl/d for other stuff there is no rush these reserves are fast producers and huge flow rates will ensue.