re: Ann: LYDIA PILOT ACHIEVES GAS FLOW IN ATP... sorry PLM,...

re: Ann: LYDIA PILOT ACHIEVES GAS FLOW IN ATP...
sorry PLM, nearly missed your post there ....I've dug this out by Losingmoney from last august, but even though the GFC has hit since then, the numbers would still be along these lines, with some updtaes to price of gas etc, that you could provide better than I - note the company issued a newsletter at about the same time that valued the in ground resource @ $12 per share :-)


25/08/08 18:40 (View) Back Post Reply (0)

losingmoney
Post #: 3245234
Start of thread:
IP: 203.58.xxx.xxx
Sentiment: LT Buy
Disclosure: Stock Held
Views: 522

A quick valuation of ICN based on the revised 3P reserve target of 5000 petajoules:

Using recent offer for Sunshine gas by QGC, offer valued SHGs 3p reserves at $0.50 per gigajoule, valuing SHG at ~$800m (nearly $3 per share) for their ~1500 petajoules (3P)

On the same valuation of 50c, puts ICN's value at around $2.5b, or ~$8 per share.

Even using a very consverative price of $0.10 per gigajoule (adopted by Wilson Analyst for 3P undeveloped reserves, their lowest grade), values ICN at well over $1.50 per share

on a long term basis, given they meet development and production timelines, this stock provides excellent value IMO


PS: fingers crossed for TSV this week .... ICNers, do yourselves a favour and take a look at TSV also, before she takes off :-)