CTP central petroleum limited
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Relevant announcement from SXY today, buying the Woleebee block...

  1. psi81
    6,452 Posts.
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    08/11/21
    10:53
    Post #: 57391058
    Relevant announcement from SXY today, buying the Woleebee block from APLNG for $80M, which is very similar reservoir quality to Range.

    NSAI 2P reserves are 75 PJ, 3P reserves are 130 PJ and SXY's target EUR is 184 PJ. This is a valuation of $1.06/GJ of 2P, 61c for 3P and 43c for EUR.

    Obviously SXY expect a return on that so my estimate of 50-80c for Range looks about right. As I posted above that is $70-110M value net to CTP, assuming they can get the pilot right.


    CTP Price at posting: 12.5¢ Sentiment: None Disclosure: Held
    Likes Created with Sketch. 13  Upvote
    lightbulb Created with Sketch.  Great analysis
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