LIO is selling 10% interest of the east Seram tenement, based on...

LIO is selling 10% interest of the east Seram tenement, based on the farmin agreement with Taiwan petro (Usd8.5m for 40%) fair value should be A$3m which is close to 1/2 MC of LIO.

I work out until SP 7c or MC 15m, 3m/15m*60%interest of Seram=12%interest of Seram, so SP has to be 7c then LIO can farm out another 10%of Seram, otherwise the investor should buy LIO shares, even if 7c on average, still cheaper than farmin directly. Maybe that’s why SP suddenly soared to around 7c at the beginning of 2021.

Interesting time, Malaysia just discovered one of largest natural gas resources in the world with more than 400m net gas pay, LIO can not be lucky like that, but wish the seismic results can conclude total resource is more than 2 billion Boes in its tenements.