Extract from the Macbank report
We expect the market to likely need to raise Dorado valuations (MRE Santos valuation includes US$1.4bn or A$0.64/sh based on 80% project interest at 60% risking factor and on our long term US$65/bbl Brent oil assumption).
So CVN 10% interest worth USD175m. With 1.7bn shares on issue that's say US10c per share 60% risked. O% risked it's worth US17c per share. That's AU25c per share based on 0.6500. That's less than my conservative 40c per share (although Macbank may do some NPV discounting) so numbers may need to be revisited. At least i'm on the right track, well sort of.
GLTAH.
Ann: Dorado Project Update, page-18
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