Only reason I can see him withholding his calcs is they don’t add up simple as that.
If he was as confident in his numbers he wouldn’t condition the release of them.
back in reality if we assume sm58 held all of BYEs reserves (which it doesn’t) they have roughly 19 mmboe at a 2P level.
$175m / 19mmboe = $9 BOE
Would an external party pay $175m for 19mmboe of which the vast majority (80%) are proved undeveloped or probable and a significant portion (30%) are gas reserves.
think we can safely say that valuation is pie in the sky
of course gdn could release his numbers to try and back up that valuation position if he really had confidence.
Only reason I can see him withholding his calcs is they don’t...
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